It’s been a busy summer for Goldman Sachs’ partner departures.
Two more farewell memos went out on Tuesday, including for Lisa Opoku and David Rusoff.
The bank said goodbye to Julian Salisbury and Takashi Murata on Friday.
This is one summer David Solomon may want to forget.
Just weeks after reporting a 58% drop in profit, the Goldman Sachs CEO was hit with a wave of high-profile defections that bring the number of partners who have left under Solomon to 90.
On Friday, Goldman bid farewell to two more partners — Lisa Opoku and David Rusoff — just days after losing two high-ranking members of its asset & wealth management unit: CIO Julian Salisbury and Takashi Murata, co-head of Asia Pacific private investing and global co-head of real estate.
Goldman’s partners are its highest-ranking executives under the C-suite. They hold a lot of sway and prestige — both inside the bank and in the wider world. Goldman has rejected claims that departures have been high, including at this year’s Investor Day in February, when Solomon said that turnover was at a five-year low. But Solomon has also introduced a lot of changes to the bank.
Solomon, the third person to lead Goldman since it went public in 1999, has been seeking to operate it more like a publicly traded company than the partnership it was for most of its 154 years. His efforts have included multiple reorganizations as he seeks to grow businesses that might stabilize earnings, including one that elevated the money-losing consumer banking business before switching gears to pare back that business.
In June, the bank lost semiconductor investment banker Tammy Kiely, and in May it said goodbye in back-to-back fashion to rates trader Frederick Baba, and Dina Powell McCormick, a former government official who ran the bank’s sovereign business and sustainability efforts.
Opoku worked as global head of the Goldman Sachs Partner Family Office, which oversees the firm’s wealth management offerings for current and retired Goldman Sachs partners, managing directors, and alumni. She is leaving after 20 years at the bank, according to a memo from Marc Nachmann, who heads the bank’s wealth and asset management unit.
David Rusoff, general counsel of Global Banking & Markets, is leaving the firm after 23 years, according to a memo by Kathryn Ruemmler, Goldman’s chief legal officer and general counsel.
Rusoff and another colleague have both taken jobs with Ken Griffin’s fast-growing financial empire. Rusoff was hired as chief legal officer of the market-making firm Citadel Securities. He will start early next year and report to CEO Peng Zhao.
David Thomas, Goldman’s deputy general counsel, will join Citadel the hedge fund, as head of global markets, legal, responsible for leading the trading and markets legal and compliance teams. Thomas, a Goldman managing director, will also start early next year and report to the firm’s Chief Legal Officer Shawn Fagan.
See memos announcing the departures of Opoku and Rusoff here:
