P.M. BRIEFING : Goldman, Sachs Chief to Retire

From Times Wire Services

John L. Weinberg said today that he plans to retire after 14 years as senior partner and chairman of the management committee at the international investment bank and brokerage Goldman, Sachs & Co.

Weinberg, 65, will step down at the end of the firm's fiscal year Nov. 30.

The firm said its two vice chairmen for the last three years, Robert E. Rubin and Stephen Friedman, will become senior partners and co-chairmen of the management committee.

Goldman, Sachs is one of the last major privately held investment firms on Wall Street and has about 6,400 employees worldwide.

Weinberg cited both the pressures of the job and his desire to pursue private interests as reasons for his decision to step down from a post he called "the greatest job in the world."

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World