David Solomon, CEO of Goldman Sachs, said in an employee memo that “John Rogers, who joined Goldman in 1994 and served as Chief of Staff and Secretary to the Board of Goldman Sachs, has decided on giving up that role next month.”
For a longer period of time, Rogers wielded outsized influence at Goldman, an institution sometimes called “Government Sachs” because former professionals had gone on to presidential administration roles.
Moreover, according to the New York Times, Rogers also helped former CEO, Hank Paulson become Treasury Secretary in 2006, which first reported Rogers’ plan of action.
Russell Horwitz will take over as head of staff from Rogers, although the new chief of staff, a former deputy of his who most recently served as Citadel’s global affairs leader, will continue in other capacities.
However, Rogers remains a management committee member, chairman of several philanthropic efforts, and has elaborated on regulatory and corporate governance projects, Solomon said.
Horwitz, who worked at Goldman for 16 years until leaving in 2020, would oversee corporate communications as well as government and regulatory affairs as the new chief of staff. He will rejoin Goldman at the prestigious partner level. He will also serve as a member of the management committee and answer to Solomon.
“Please join me in thanking John for his long and impactful tenure as chief of staff, as well as his continued commitment to Goldman Sachs in his other firmwide responsibilities, and in welcoming Russell back to Goldman Sachs,” Solomon said.
The move comes at a fundamental period for Goldman’s CEO. Solomon, who condoned criticism from a few partners and investors over an unfortunate consumer banking effort, his high-profile DJ hobby, and other clinkers.
- Published By Team Genuine Reporter