Eric Schwartz, co-head of the investment management division at Goldman Sachs Group, is set to retire this summer, according to an internal memorandum.
Schwartz, who was a member of the firms management committee, joined Goldman 23 years ago. He stepped into his current role in 2003, having previously been co-head of the equities division. He was also previously a co-chair of the partnership committee.
The asset management unit will remain under the control of Schwartzs co-head, Peter Kraus.
Goldman Sachss asset management business has experienced a volatile year. The firms flagship $10 billion Global Alpha fund fell nearly