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 Photographs
A key Goldman Sachs government often called an influence dealer internally and in political circles is stepping again from a few of his tasks, in keeping with 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 “Authorities Sachs” as a result of former executives have gone on to presidential administration roles. In actual fact, Rogers helped former CEO Hank Paulson turn out to be Treasury secretary in 2006, in keeping with The New York Instances, which first reported Rogers’ announcement.
Whereas Rogers is ceding his chief of workers tasks to Russell Horwitz, a former deputy of his who was most not too long ago world 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 tasks, 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 associate rank. He may even 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 tasks, 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 interest and different missteps.