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Goldman Sachs Names Insider Harvey Schwartz CFO

The Goldman Sachs booth on the floor of the New York Stock Exchange
Getty Images
The Goldman Sachs booth on the floor of the New York Stock Exchange

Goldman Sachs named longtime executive Harvey Schwartz as its new chief financial officer, succeeding David Viniar.

The company announced Tuesday that Viniar, who has been with Goldman for 32 years and spent the last 12 as CFO, would be stepping down. After leaving the post, he will join the company's board as non-independent director.

Schwartz is currently the global co-head of its securities division. He joined the company as a vice president in 1997, became a managing director in 1999, and was named partner in 2002. He is expected to take over as CFO starting in January 2013.

Goldman Sachs plans a conference call on Tuesday at 5 p.m. EDT to discuss the announcement.

Schwartz "has deep experience in credit, liquidity, market and operational risk," Goldman CEO Lloyd Blankfein said. "Harvey's risk management judgment and broad understanding of our business and our clients have defined his career and will be the basis of his strengths as an effective CFO."

In his new role, Schwartz will have oversight of operations, technology and finance at the bank. He will also serve as co-head of the Firmwide Risk Committee.