During the Securities Industry and Financial Markets Association annual meeting in Washington, D.C. on October 24, 2017, John Rogers gave an interview where he shared his insights.
According to an employee memo from Goldman Sachs CEO David Solomon, Rogers, a prominent executive in Goldman Sachs, will be stepping back from some of his responsibilities next month.
Rogers, who joined Goldman Sachs in 1994 and served as chief of staff to four of the bank’s CEOs, will no longer hold that position. However, he will maintain his role as a management committee member and continue to chair various philanthropic efforts. He will also contribute to regulatory and corporate governance projects.
Instead, Russell Horwitz, a former deputy of Rogers who most recently served as the global affairs chief of Citadel, will take on the role of chief of staff. As part of his new responsibilities, Horwitz will oversee corporate communications and government and regulatory affairs. He will report to Solomon as a management committee member.
The announcement marks a significant transition for Rogers, who has held considerable influence within Goldman Sachs for decades. Often referred to as “Government Sachs,” the institution has seen former executives move into prominent roles in presidential administrations. Rogers himself played a part in facilitating former CEO Hank Paulson’s appointment as Treasury Secretary in 2006.
Goldman Sachs CEO David Solomon expressed gratitude for Rogers’ contributions and welcomed Horwitz back to the company in his new role.
This development comes at a crucial time for Solomon, as he has faced criticism from partners and investors regarding an unsuccessful foray into consumer banking, as well as his attention-grabbing DJ hobby and other missteps.
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