Goldman Sachs’ John Rogers steps down as chief of staff

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John Rogers, Goldman Sachs’ chief of staff and one of the bank’s most influential executives is stepping back from his role.

Rogers, 67, is handing over his responsibilities to Russell Horwitz, a former Goldman partner who left the group in 2020, the bank announced in a memo to staff on Tuesday.

Rogers, dubbed the “board whisperer” by some insiders, is remaining at Goldman as executive vice-president and secretary to the board.

Horwitz, whose role starts on September 5, was previously at Goldman for 16 years and held several positions including deputy chief of staff. He most recently worked as chief global affairs officer at Citadel, the investment company run by Ken Griffin.

“The opportunity to go back in this capacity, it felt right for a million reasons,” Horwitz told the Financial Times.

As chief of staff, Horwitz will oversee operations in Goldman’s executive office and will manage corporate communications, government and regulatory affairs, and corporate engagement.

The change in such an important role comes at a sensitive time for Goldman and chief executive David Solomon following a series of recent senior departures as well as slowdowns in investment banking and trading activity.

Like many who have worked at Goldman, Rogers’ career has blended Wall Street finance with politics. He previously worked in the White House under Gerald Ford, Ronald Reagan and George HW Bush before joining Goldman in 1994. 

He is the first person at Goldman to have the chief of staff role and, along with his position as secretary to the board, he was viewed as having significant influence in both the management committee and the board of directors.

Horwitz joined Goldman in 2004 and was made a partner in 2012. He previously worked at the Securities and Exchange Commission and was special assistant to the national economic adviser and deputy director of communications research at the White House during the Clinton administration.

At Goldman, he was a key lieutenant to Lloyd Blankfein, Solomon’s predecessor as chief, in the aftermath of the 2008 financial crisis as the bank weathered public criticism for its role in fuelling and profiting from the housing bubble.