John Rogers speaks during an interrogation astatine the Securities Industry and Financial Markets Association yearly gathering successful Washington, D.C., Oct. 24, 2017.
Andrew Harrer | Bloomberg | Getty Images
A cardinal Goldman Sachs enforcement known arsenic a powerfulness broker internally and successful governmental circles is stepping backmost from immoderate of his responsibilities, according to a memo Tuesday from CEO David Solomon.
John Rogers, who joined Goldman successful 1994 and served arsenic main of unit to 4 of the bank's CEOs, is giving up that relation adjacent month, Solomon said successful the worker memo.
For decades, Rogers, 67, wielded outsized power astatine Goldman, an instauration sometimes called "Government Sachs" due to the fact that erstwhile executives person gone connected to presidential administration roles. In fact, Rogers helped erstwhile CEO Hank Paulson go Treasury caput successful 2006, according to The New York Times, which archetypal reported Rogers' announcement.
While Rogers is ceding his main of unit responsibilities to Russell Horwitz, a erstwhile lawman of his who was astir precocious planetary affairs main of Citadel, helium is retaining different roles. Rogers remains a absorption committee member, president of respective philanthropic efforts and progressive successful regulatory and firm governance projects, Solomon said.
As incoming main of staff, Horwitz, who spent 16 years astatine Goldman earlier departing successful 2020, volition oversee firm communications and authorities and regulatory affairs. Horwitz is rejoining Goldman astatine the coveted spouse rank. He will besides beryllium a absorption committee subordinate reporting to Solomon.
"Please articulation maine successful thanking John for his agelong and impactful tenure arsenic main of staff, arsenic good arsenic his continued committedness to Goldman Sachs successful his different firmwide responsibilities, and successful welcoming Russell backmost to Goldman Sachs," Solomon said.
The determination comes astatine a cardinal clip for Goldman's CEO. Solomon has endured criticism from immoderate partners and investors implicit an ill-fated user banking effort, his high-profile DJ hobby and different missteps.
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