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.
Goldman Sachs, the most profitable securities firm in Wall Street history before converting to a bank in 2008, has climbed 33 percent this year in New York trading, and the U.S. Justice Department and Securities and Exchange Commission have dropped probes into the company. Viniar told an analyst last year he wouldn't leave until a sense of calm was restored.
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