New global CFO for Goldman Sachs

Goldman Sachs' global co-head of the securities division, Harvey Schwartz, will be promoted to chief financial officer following David Viniar's retirement commencing in January 2013.

Schwartz has been with Goldman Sachs since 1997, when he signed on as vice president. He became a managing director in 1999 and a partner in 2002.

As global co-head of the securities division, Schwartz managed client corporate and institutional relationships. He also worked in centralising finance related advice, origination and execution for clients as co-head of the Americas Financing Group within Goldman Sachs' investment banking division. 

Schwartz will pick up Viniar's responsibilities, including as co-head of the firm-wide risk committee, overseeing operations, technology and finance.

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In addition, he will continue to serve on the management committee, business standards committee and co-chair the steering committee on regulatory reform.

Goldman Sachs chief executive Lloyd Blankfein said Schwartz's experience in credit, liquidity, market and operational risk would continue to be an asset.

"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. He is a part of a senior leadership group across all of our divisions that is focused on building on a strong, global and dynamic client franchise," he said.

Viniar said he had sought Schwartz's advice on a number of issues and was assured of his success.

Viniar will stay on as an independent director amongst a host of expected new faces as the company prepares to appoint further independent directors.