Dan Dees, the new co-head of investment banking at Goldman Sachs

Goldman Sachs Group Inc. (GS - Get Report)  announced Wednesday, Sept. 19, that Dan Dees will become co-head of its investment-banking division alongside Gregg Lemkau and Marc Nachmann, the latest in a series of management changes as incoming CEO David Solomon prepares to assume leadership from the current chief, Lloyd Blankfein.

Blankfein and Solomon announced the promotion Wednesday in an internal memo, which was forwarded by a spokesman for the New York-based firm. Dees will continue to be based in San Francisco, while joining the firm's prestigious management committee.  

Dees, 48, currently heads the technology, media and telecommunications group within the investment-banking division, according to the memo. Previously he served as co-head of the investment-banking division for Asia outside of Japan.

He joined Goldman in 1992 in New York in the corporate finance group and was named partner in 2004.

Also this week, Goldman promoted John Mahoney to co-chairman of its financial-institutions group, which provides investment-banking services to banks, insurers and other finance companies. Mahoney, who had been overseeing the financial-institutions group for Asia outside of Japan, will relocate to New York from Asia.