Top managers have been asked to identify potential cost-reduction targets.
CEO David Solomon has recently also signaled he's reviewing other business lines to manage headcount and limit costs.
Solomon said the US could see a recession in 2023, even though the firm's economists say it could still avoid one.
Goldman Sachs and Bank of America executives have also warned of hiring slowdowns.
Some wealth advisers have been growing cautious about client exposure to illiquid assets in recent months.
The partner worked in posts around the C-suite, met with top executives and held senior positions in one of the firm's divisions.
This is expected to be the most diverse group of executives elevated to Goldman's top rank.
The firm's money-losing consumer unit will be broken up.
Investment bankers have been idled by skittish markets, keeping companies from doing business with them.
The company's investment-banking group posted $1.28 billion in revenue in the third quarter, down 55% from a year earlier.
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