Goldman CEO ‘Reluctantly’ Let Kathy Ruemmler Resign

Goldman Sachs CEO David Solomon addressed the sophisticated state of affairs the agency confronted this week as its normal counsel and chief authorized officer, Kathy Ruemmler, dominated headlines for her previous connections and hundreds of emails with disgraced former financier Jeffrey Epstein.

She is now set to step down this summer season.

Ruemmler submitted her resignation on Thursday, which Solomon mentioned he reluctantly accepted because the media storm grew about a wide range of her contacts with Epstein and his lavish items to her, all of which transpired earlier than she joined Goldman as its prime authorized official in 2020.

“She known as me yesterday afternoon and advised me that the press protection of the work she had performed beforehand and of this complete state of affairs had simply gotten to a degree of noise and distraction that she thought it was distracting the agency,” Solomon advised CNBC interviere”It was placing her ready the place it was arduous for her to execute on her job and her tasks, and she or he simply thought it was time to step away.”

Solomon mentioned that Ruemmler’s connections with Epstein predated her time on the Wall Avenue financial institution, however acknowledged the complexity the state of affairs introduced for the agency’s prime management.

“As a CEO and a management crew, we’re making real-time choices with a really valued colleague that we labored with very intently, and that is not a straightforward factor to work by. There’s a whole lot of nuance to that.” He added that he was “pleased with the best way Kathy has dealt with herself and the best way we have labored by this.”

And he added that Goldman wasn’t the one massive group dealing with the fallout of executives’ or high-powered people’ obvious connections to Epstein, who died in 2019 however whose legacy has continued to solid a pall over massive segments of the company sector.

“Lots of people are attempting to work by it,” Solomon advised CNBC’s Andrew Ross Sorkin when pressed for extra element on how the choice happened. He praised Ruemmler’s contributions, calling her “an incredible human being” who had served as an “extraordinary normal counsel with deep, deep expertise” for the banking establishment.

Ruemmler’s final day at Goldman is ready to be June 30, the financial institution mentioned.