Goldman Sachs Group Inc. said newly appointed CFO Harvey Schwartz will receive $1.85 million in annual salary and be eligible for variable compensation.

Goldman named Harvey Schwartz, a senior trading executive, to replace David Viniar as chief financial officer, the latest in a series of executive shuffles as the investment bank prepares for a change in top management.

Viniar is among the best-paid executives on Wall Street. He earned $15.8 million last year and held 1.8 million shares of Goldman as of March 26, according to a proxy filing.

Schwartz will take over from Viniar, the longest-serving CFO on Wall Street, at the end of January.

Schwartz, 48, is among a small group of executives who are considered potential candidates to take over when Goldman Chief Executive Lloyd Blankfein steps down.