What’s Going On At Goldman? Another Senior Exec Just Jumped Ship
In the last few days, Goldman Sachs has lost two very senior executives from the investment bank’s two biggest bets on the future – consumer finance (Marcus) and wealth-management – and now, the behemoth’s chief lawyer is abandoning ship.
Leaving many asking – what is going on at Goldman?
Sunday saw Omer Ismail – the head of Goldman’s consumer-facing commercial bank – Marcus – jump ship to join Walmart (and David Stark, one of Ismail’s top lieutenants at Goldman will join him in the new venture).
Monday saw Eric Lane – the co-head of Goldman’s $8 billion asset-management business – make a sudden exit from the firm to join Tiger Global.
And now Tuesday, Karen Seymour – Goldman’s general counsel – is exiting the bank.
Seymour played a crucial role in helping the bank settle criminal probes in the 1MDB scandal last year (Goldman forked over $5 billion in penalties while avoiding any sanctions that would hobble its operations).
Seymour is perhaps best known for winning an obstruction-of-justice conviction against Martha Stewart in 2004, when she was with the U.S. Attorney’s Office for the Southern District of New York. She joined Goldman Sachs from Sullivan & Cromwell LLP, where she also started her career in 1987.
One can’t help but wonder if there is much more turbulence below the Goldman surface than the bank’s impressive recent earnings would suggest.