Business, Economics and Jobs

Goldman Sachs CFO David Viniar to retire, Harvey Schwartz appointed his successor


Goldman Sachs CFO David Viniar speaking at the US Senate Homeland Security and Governmental Affairs Investigations Subcommittee hearing on Capitol Hill on April 27, 2010 in Washington, DC. The subcommittee was investigating the role of investment banks during the global financial crisis.


Mark Wilson

Goldman Sachs chief financial officer David Viniar, regarded by Wall Street as the brains behind the investment bank, will retire at the end of January 2013.

Viniar, 57, has worked for the bank for 32 years, the last 12 years as CFO, the Los Angeles Times reported today.

Reuters reported Viniar, the longest serving CFO on Wall Street, was viewed as a “strong risk manager” and played a key role in helping the investment bank emerge strong from the global financial crisis.

He will be replaced by Harvey Schwartz, the current global co-head of the bank's securities division, the Associated Press reported.

"From helping to develop many of our most important risk-management processes to attracting and mentoring generations of professionals to helping the firm manage through the financial crisis, David represents the very best of Goldman Sachs and its culture," Goldman Sachs chief executive Lloyd Blankfein said in a statement.

After leaving his post, Viniar will join the Goldman Sachs board as a non-independent director, the Wall Street Journal reported.

Schwartz has worked at the bank since 1997 and has "deep experience in credit, liquidity, market and operational risk,” according to Blankfein.

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