TYLER DURDEN, 02 March 2021
In the last few days, Goldman Sachs has lost two very senior executives from the investment bank’s two biggest bets on the future – consumer finance (Marcus) and wealth-management – and now, the behemoth’s chief lawyer is abandoning ship.
Leaving many asking – what is going on at Goldman?
Sunday saw Omer Ismail – the head of Goldman’s consumer-facing commercial bank – Marcus – jump ship to join Walmart (and David Stark, one of Ismail’s top lieutenants at Goldman will join him in the new venture).
Monday saw Eric Lane – the co-head of Goldman’s $8 billion asset-management business – make a sudden exit from the firm to join Tiger Global.
And now Tuesday, Karen Seymour – Goldman’s general counsel – is exiting the bank. Seymour played a crucial role in helping the bank settle criminal probes in the 1MDB scandal last year (Goldman forked over $5 billion in penalties while avoiding any sanctions that would hobble its operations).
Seymour is perhaps best known for winning an obstruction-of-justice conviction against Martha Stewart in 2004, when she was with the U.S. Attorney’s Office for the Southern District of New York. She joined Goldman Sachs from Sullivan & Cromwell LLP, where she also started her career in 1987.