Goldman Sachs Group Inc. Chief Financial Officer David A. Viniar, who guided the firm through its 1999 initial public offering and the 2008 financial crisis, will end his 32-year career as an employee in January.
Viniar, whose 12 years in the role make him the longest-serving CFO on Wall Street, will be succeeded by Harvey M. Schwartz, 48, one of three global co-heads from the sales and trading division, the New York-based bank said in a statement yesterday. Goldman Sachs will add Viniar, 57, as well as some independent directors to the 10-member board, the firm said.
“I’d assume it’s been a rather stressful couple of years there,” said Wallace, whose firm doesn’t own Goldman Sachs stock. “There will obviously be some questions about when Lloyd is going to step down as well.”
Schwartz became co-head of the securities division in February 2008, giving him oversight of the company’s biggest business by revenue. Isabelle Ealet, 49, the French-born former commodities chief who helps run securities from London, and Pablo J. Salame, 46, the New York-based Ecuadoran citizen who has experience overseeing equities, credit and emerging markets, will be left in charge of the business after Schwartz’s move.