Goldman Sachs's Senior Executive Jim Esposito To Retire

(RTTNews) - Goldman Sachs Group, Inc.'s (GS) co-head of the global banking and markets division, Jim Esposito, is set to retire after nearly 30 years at the firm, according to Reuters.

Following his departure, Esposito will assume the role of senior director. He has been co-chair of Goldman's partnership committee since 2021.

Sources familiar with the matter disclosed that Esposito had aspirations to become the company's CEO, but current CEO David Solomon has indicated that he does not plan to step down anytime soon. CEO David Solomon acknowledged Esposito's contributions, particularly in navigating industry changes, in a memo announcing his departure, "Jim has also helped our businesses navigate extraordinary change in our industry, including structural developments driven by technology and regulation."

The 56-year-old Esposito joined Goldman in 1995 and has held various positions during his tenure. When he leaves, his current co-heads from the trading and investment banking unit, Dan Dees and Ashok Varadhan, will continue to lead the unit, while Esposito will maintain his position as a senior director.