Goldman Sachs Group Inc. Treasurer Liz Beshel Robinson is stepping down and will be replaced by Robin Vince.
Robinson, 46, will become an advisory director, a title given to some of the firm’s alumni who are no longer employees, at the end of the year, according to an internal memo Wednesday from Chief Financial Officer Harvey Schwartz. Laurence Stein, chief operating officer of the bank’s trading unit, will replace Vince as global head of the operations division, according to a separate memo.
Robinson, a protege of former CFO David Viniar who became the firm’s youngest-ever treasurer in 2005, helped New York- based Goldman Sachs convert into a bank holding company and weather the 2008 financial crisis. Since then, she has been part of the company’s efforts to gather more deposits, including its pending acquisition of GE Capital Bank.
“Liz has an amazing ability to balance the firm’s commercial interests with our appetite for risk,” Esta Stecher, chief executive officer of Goldman Sachs Bank USA, said at a 2013 awards presentation. “It’s almost impossible to overstate how challenging this can be on a day-to-day basis.”
Robinson was considered a candidate to become CFO before Schwartz was picked as Viniar’s successor three years ago. She joined Goldman Sachs in 1990 and was named a partner, the firm’s highest rank, in 2006. Her husband, Samuel Robinson, served as head of strategy for Goldman Sachs’s investment-banking division before leaving last year.
Vince, who also served as COO of the firm’s European region, joined Goldman Sachs in 1994 and was named a partner in 2006. He previously oversaw the money markets business in the fixed-income trading division.
Stein joined the firm in 1996 and became partner in 2006. He previously served in CFO roles for the trading and investment-banking units.