(By Balaseshan) Goldman Sachs Group Inc. (NYSE:GS), the investment banking giant, said Harvey Schwartz will replace David Viniar as its Chief Financial Officer at the end of January 2013.
After a 32-year career at the firm, including 12 years as the Chief Financial Officer, David Viniar has decided to retire and will join the Board of Directors as a non-independent director at that time. The firm expects to appoint additional independent directors to its board in the near term.
Schwartz, who is currently the global co-head of the Securities Division, will assume Viniar's responsibilities, including oversight of Operations, Technology and Finance and as co-head of the Firmwide Risk Committee.
Prior to becoming global co-head of the Securities Division, Schwartz was global head of Securities Division Sales, where he helped oversee the Division's relationships with clients including corporations, asset managers and institutions.
From 1998 until 1999, Viniar was Deputy Chief Financial Officer. He is the longest serving Chief Financial Officer of a major financial institution on Wall Street, the company said.
Goldman Sachs provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. It reports activities in four segments: Investment Banking, Institutional Client Services, Investing & Lending and Investment Management.
GS closed Tuesday's regular session down 0.02% at $119.88. The stock has been trading between $84.27 and $128.72 for the past 52 weeks.