Goldman Sachs' Key Executive John Rogers Steps Back From Role, Hands Over Responsibilities

(RTTNews) - John Rogers, a prominent and influential figure within Goldman Sachs, is transitioning from his current position as chief of staff, according to an internal memo released by the bank on Tuesday. Rogers, who holds the moniker "board whisperer" among some insiders, will be succeeded by Russell Horwitz, a former Goldman partner who departed the group in 2020.

In his new role, Rogers, aged 67, will remain at Goldman as executive vice-president and secretary to the board. His influence has extended across the management committee and the board of directors. Horwitz, who assumes the role on September 5, is set to oversee operations in Goldman's executive office, managing corporate communications, government and regulatory affairs, and corporate engagement.

Horwitz's return to Goldman holds significance, as he was previously with the firm for 16 years and held various positions, including deputy chief of staff. He most recently served as the chief global affairs officer at Citadel, an investment company led by Ken Griffin.

The timing of this leadership change is noteworthy given recent senior departures and sluggishness in Goldman's investment banking and trading activities. David Solomon, the chief executive of Goldman Sachs, faces the challenge of maintaining momentum in the wake of these changes.

Rogers' career has traversed both finance and politics. Before joining Goldman in 1994, he worked in the White House under presidents Gerald Ford, Ronald Reagan, and George HW Bush. He holds the distinction of being the first person at Goldman to hold the chief of staff role. This, along with his position as secretary to the board, granted him considerable influence in the bank's management committee and board of directors.

Horwitz's return to the fold underscores his strong ties to the firm. Having been a partner since 2012, he initially joined Goldman in 2004. His previous roles include serving at the Securities and Exchange Commission and working as special assistant to the national economic adviser during the Clinton administration.

Notably, Horwitz was a key figure under Lloyd Blankfein, Solomon's predecessor as chief, during the aftermath of the 2008 financial crisis, a period when the bank grappled with public criticism for its involvement in the housing bubble.