Goldman Sachs Group, Inc. has announced a significant change in its leadership team, with Harvey M. Schwartz set to take over as Chief Financial Officer at the end of January 2013. This move comes as David Viniar, who has served as the Chief Financial Officer for 12 years, has decided to retire and join the Board of Directors as a non-independent director at that time. The firm also plans to appoint additional independent directors to its board in the near future.

Lloyd C. Blankfein, Chairman and CEO of Goldman Sachs, expressed his confidence in the transition, stating, "We are pleased that Harvey will become our new CFO. He has deep experience in credit, liquidity, market and operational risk." Blankfein also commended Viniar, saying, "David has made extraordinary contributions to Goldman Sachs over a remarkable 32-year career."

In response to his new role, Mr. Schwartz expressed his enthusiasm, stating, "It is an honor to assume this important role and I’m looking forward to working with my colleagues across the firm to advance our clients’ goals." Meanwhile, Mr. Viniar reflected on his tenure, remarking, "I’ve had a wonderful career at Goldman Sachs."

As part of the transition, Mr. Schwartz will take on Mr. Viniar’s responsibilities, overseeing Operations, Technology, and Finance, and serving as co-head of the Firmwide Risk Committee. Schwartz, who joined Goldman Sachs in 1997, has held various leadership positions within the firm and brings a wealth of experience to his new role.

Goldman Sachs will be hosting a call to discuss these changes, featuring both Mr. Viniar and Mr. Schwartz. Members of the public can tune in by dialing the provided numbers, with a replay available for those unable to listen live.

The Goldman Sachs Group, Inc., founded in 1869, is a leading global investment banking, securities, and investment management firm. Headquartered in New York, the firm serves a diverse client base and maintains offices in major financial centers worldwide.

For further information, media inquiries can be directed to Jake Siewert at 212-902-5400, and investor relations queries to Dane E. Holmes at 212-902-0300.