Goldman Sachs Group, Inc. (NYSE:GS) will see some changes in its executive office of Chief Financial Officer in January of 2013.
David Viniar will be replaced by Harvey M. Schwartz, the global co-head of Goldman’s Securities Division. The change is slated for the final days of January of next year.
Schwartz has been with Goldman Sachs Group, Inc. (NYSE:GS) since 1997, and quickly accelerated through the ranks, by being named managing director just two years later, and partner in 2002. he has served in many capacities for the company, and is definitely qualified to accept the position.
The chairman and CEO of Goldman Sachs, Lloyd C. Blankfein, said, ” we are pleased that Harvey will become our new CFO. He has deep experience in credit, liquidity, market,and operational risk. Harvey’s risk management judgement and broad understanding of our business and our clients have defined his career, and will be the basis of his strengths as an effective CFO. He is part of a senior leadership group across all of our divisions, that is focused on building on a strong, global, and dynamic client franchise.”
Viniar, who has served as the CFO for 12 years, will be joining the board of directors as a non-independent director, following his retirement in January. He is the longest serving CFO of any financial institution on Wall Street, according to Forbes.
Goldman Sachs Group, Inc. (NYSE:GS) shares remained flat today, despite the news of a major executive planning to leave, and they closed at $119.88. The company’s stock has risen 32% this year.