Goldman’s Stephanie Cohen Exits for Cloudflare After Retail Flop

Stephanie Cohen, a veteran Goldman Sachs Group Inc. executive, is formally leaving the firm after nearly a year of absence from her role running the Wall Street giant’s expansion into retail banking.

Cohen, who had gone on leave in 2023, elected not to return and will join software company Cloudflare Inc. as its chief strategy officer. She was the only woman in charge of one of the bank’s primary units, but it was one described internally as a bad bank that Goldman had begun unwinding within months of creating it in October 2022.

Her exit adds to the dwindling ...