NEW YORK (AP) — Goldman Sachs Group Inc.'s chief financial officer is retiring, and his replacement is a longtime executive at the investment bank.
David Viniar, 57, is stepping down after 32 years with Goldman, the last 12 as CFO. Harvey M. Schwartz, 48, will replace him at the end of January, the bank said Tuesday
After Viniar leaves the post, he will join Goldman's board as a non-independent director.
Schwartz served most recently as the global co-head of Goldman's securities division. He joined the firm as a vice president in 1997, became a managing director in 1999, and was named partner in 2002.
In his new role, Schwartz will have oversight of operations, technology and finance at the bank. He will also serve as co-head of the Firmwide Risk Committee.
Schwartz "has deep experience in credit, liquidity, market and operational risk," Goldman Sachs Chairman and CEO Lloyd C. Blankfein said. "Harvey's risk management judgment 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."
Viniar made "extraordinary contributions" to Goldman Sachs and "represents the very best of Goldman Sachs and its culture," Blankfein said.
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