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Goldman Sachs appoints new CFO

Goldman Sachs has appointed global co-head of the securities division Harvey Schwartz as chief financial officer, to replace David Viniar who will retire in January.

Schwartz will assume Viniar’s responsibilities, including oversight of operations, technology and finance and as co-head of the firmwide risk committee.

He joined Goldman Sachs as a vice president in 1997, became a managing director in 1999, and was named partner in 2002. He serves on the management committee, the firmwide risk committee and was a member of the business standards committee. He is also co-chair of the steering committee on regulatory reform.

Viniar, who has been in the role for 12 years, will join the board of directors as a non-independent director.

Goldman Sachs chairman and chief executive Lloyd Blankfein says: “We are pleased that Harvey will become our new CFO. He has deep experience in credit, liquidity, market and operational risk. 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.”

Schwartz says: “It is an honour to assume this important role and I am looking forward to working with my colleagues across the firm to advance our clients’ goals, generate strong, long-term returns for our shareholders and safeguard and enhance our culture of risk management.”

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