It’s atypical but not unprecedented for an executive other than the CEO to serve on the board. The move also may cement John Waldron, the bank’s president, as a possible successor to David Solomon.

Goldman Sachs Group Inc. President John Waldron is joining the bank’s board of directors, in a rare move that elevates a banker who isn’t in the chief executive role.

Goldman Sachs added its president and chief operating officer John Waldron to the board, the Wall Street bank said in a regulatory filing on Wednesday. The appointment comes a month after Waldron was given a retention bonus of $80 million in restricted stock.