September 16, 2019 / 2:58 PM / 3 months ago

Goldman Sachs chief risk officer to retire: memo

NEW YORK (Reuters) - Goldman Sachs Group Inc (GS.N) announced on Monday that its Chief Risk Officer Robin Vince will retire at the end of the year, according to an internal memo viewed by Reuters.

A 25-year-veteran of Goldman Sachs, Vince has spearheaded the firm’s overall risk management standards since 2017. He leaves the bank amid several recent high-profile departures.

“He has... been at the center of many of our most important and complex regulatory implementations where his leadership has consistently differentiated the firm,” Goldman Chief Executive Officer David Solomon wrote in the memo, which was also signed by Chief Operating Officer John Waldron and Chief Financial Officer Stephen Scherr.

Vince will be replaced by Brian Lee on Nov. 4, according to a second memo sent out by the firm’s top brass on Monday. Lee, who has also been with the firm for 25 years, has most recently served as controller and chief accounting officer.

Sheara Fredman will succeed Lee to become the bank’s controller and chief accounting officer also on Nov. 4. Previously, Fredman managed controllers for the bank’s securities division as the global product controller.

Earlier this month, Goldman announced the departure of several top division heads, including the co-head of the securities division, Marty Chavez, and the head of human capital management, Dane Holmes.

Prior to becoming chief risk officer, Vince was the chief operating officer for the bank’s operations across Europe, the Middle East and Africa from 2011 to 2015. He also served as chief executive of Goldman Sachs International Bank during that time.

Vince’s departure was first reported by Wall Street Journal.

After he retires, Vince will serve as a senior director and an adviser to Goldman’s executive office, the memo said.

Reporting By Elizabeth Dilts; Editing by Edmund Blair and Andrea Ricci

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