Global Head of Trading Josh Schiffrin has been promoted to chief strategy officer and head of financial risk for global banking and markets, Bloomberg reported on Friday, citing a memo dated Sept. 17.

Josh Schiffrin, Goldman Sachs Group Inc.’ global head of trading strategy, was promoted to chief strategy officer and head of financial risk for global banking and markets at the firm, according to a memo seen by Bloomberg.

The new role is an extension of his current responsibilities, which will now include overseeing the financial risk team.