Goldman Sachs Longtime Executive John Rogers Passes the Torch
August 08, 2023: In a significant shift within Goldman Sachs, one of its influential executives, John Rogers, is making way for a new leader. Russell Horwitz, a former deputy of Rogers, is stepping into the chief of staff role, marking a transition of responsibilities. This development comes as part of broader changes under David Solomon, the CEO of the Wall Street powerhouse.
Rogers, aged 67, who has garnered substantial influence over nearly 25 years at Goldman Sachs, is relinquishing his position as chief of staff. However, it’s important to note that he remains an integral part of the organization, holding several other vital roles, including executive vice president, board secretary, committee member, and leader of philanthropic initiatives. This move reflects a shift in the dynamics of the firm, especially at a time when Solomon is leading efforts to reshape the bank amidst the departures of key executives.
Rogers’s presence has extended beyond the firm, having been known as an adept advisor to CEOs and board members. He is also recognized for his significant influence in Washington during the Reagan and George H.W. Bush administrations. His deep understanding of managing complex bureaucracies and navigating intricate relationships has contributed to his remarkable impact.
Taking over from Rogers is Russell Horwitz, who is no stranger to Goldman Sachs. Horwitz’s journey with the company started in the 2000s as a speechwriter for Hank Paulson. Over time, he climbed the ranks and played a pivotal role in managing crises like the aftermath of the 2008 financial crisis and the 1MDB scandal. In 2020, he left Goldman Sachs and joined Citadel as its chief global affairs officer. However, he is returning to Goldman Sachs as chief of staff, partner, and committee member. He will oversee the firm’s corporate communications, public engagement, and lobbying efforts.
This transition is noteworthy within Goldman Sachs and draws attention from industry observers. Horwitz’s close association with former CEO Lloyd Blankfein and his role in navigating challenging situations adds an absorbing layer to this change. As Solomon reshapes the bank’s strategy, Horwitz’s role will be pivotal in ensuring effective communication and engagement with the public and stakeholders.
In conclusion, the baton passing from John Rogers to Russell Horwitz signals a significant transition at Goldman Sachs. This move comes amid broader changes led by CEO David Solomon and reflects the evolving landscape of the financial industry. As Horwitz takes on the chief of staff role, his extensive experience and strategic approach will likely play a crucial role in shaping the bank’s direction in the coming years.