John Rogers speaks throughout an interview on the Securities Trade and Monetary Markets Affiliation annual assembly in Washington, D.C., Oct. 24, 2017.
Andrew Harrer | Bloomberg | Getty Pictures
A key Goldman Sachs govt referred to as an influence dealer internally and in political circles is stepping again from a few of his duties, in response to a memo Tuesday from CEO David Solomon.
John Rogers, who joined Goldman in 1994 and served as chief of workers to 4 of the financial institution’s CEOs, is giving up that position subsequent month, Solomon stated within the worker memo.
For many years, Rogers, 67, wielded outsized affect at Goldman, an establishment generally known as “Government Sachs” as a result of former executives have gone on to presidential administration roles. In actual fact, Rogers helped former CEO Hank Paulson grow to be Treasury secretary in 2006, according to The New York Occasions, which first reported Rogers’ announcement.
Whereas Rogers is ceding his chief of workers duties to Russell Horwitz, a former deputy of his who was most just lately international affairs chief of Citadel, he’s retaining different roles. Rogers stays a administration committee member, chairman of a number of philanthropic efforts and concerned in regulatory and company governance initiatives, Solomon stated.
As incoming chief of workers, Horwitz, who spent 16 years at Goldman earlier than departing in 2020, will oversee company communications and authorities and regulatory affairs. Horwitz is rejoining Goldman on the coveted accomplice rank. He may also be a administration committee member reporting to Solomon.
“Please be a part of me in thanking John for his lengthy and impactful tenure as chief of workers, in addition to his continued dedication to Goldman Sachs in his different firmwide duties, and in welcoming Russell again to Goldman Sachs,” Solomon stated.
The transfer comes at a key time for Goldman’s CEO. Solomon has endured criticism from some companions and traders over an ill-fated client banking effort, his high-profile DJ pastime and different missteps.
