A top Goldman Sachs banker privately opposed CEO David Solomon’s decision to stand by Kathy Ruemmler as revelations about her ties to Jeffrey Epstein engulfed the Wall Street giant — and now he’s on his way out the door, according to a report.
Russell Horwitz, Goldman’s chief of staff, raised concerns for months about Solomon’s support for Ruemmler as successive releases of Epstein-related documents exposed the extent of her relationship with the late convicted sex offender, The Financial Times reported.
The FT report cites people close to Horwitz.
A source close to the situation told The Post that while the FT reporting is accurate, Goldman employees were “shocked and appalled that an executive would talk about disagreements with the CEO in the media.”
Horwitz, who is leaving his chief of staff role at the end of June, denied that his departure was related to Goldman’s handling of the Ruemmler controversy.
“No, that is not the reason I’m leaving Goldman Sachs,” Horwitz said in a statement cited by the newspaper.
Horwitz was one of the few senior figures inside Goldman willing to challenge Solomon on the issue, according to people familiar with the matter cited by the newspaper. Goldman Sachs and reps for Ruemmler both declined to comment when reached by The Post.
Ruemmler resigned in February after a trove of Epstein-related emails were released by the Justice Department.
But Solomon asked her to stay on as an adviser to the firm beyond her scheduled departure date later this month, the FT reported.
“Russell was one of the few people who wanted to address it and everyone else didn’t. That was hugely frustrating for him,” one person familiar with the situation told the FT.
Another person said Solomon’s backing of Ruemmler had become a taboo subject inside Goldman, with few executives willing to question the CEO’s continued support for one of his closest advisers.
The internal dissent contrasts sharply with Solomon’s long-standing support for Ruemmler.
When she resigned in February, Solomon said he had “reluctantly accepted” her decision while praising her as a “tremendous” person.
The Post reported in April that Solomon privately urged Ruemmler to reconsider, telling her: “You don’t have to do this.”
Sources close to Ruemmler told The Post that she was unusually transparent with Goldman about her Epstein ties before joining the bank and even turned down an offer worth $30 million to join Epstein’s defense team after his 2019 arrest.
Ruemmler has maintained that she regretted ever knowing Epstein and had no knowledge of his criminal activities.
But the FT reported Monday that Horwitz remained unconvinced and was among the few senior Goldman executives willing to challenge Solomon’s continued support for Ruemmler.
One Goldman executive described a state of “shock” inside the firm when last week’s news of Ruemmler’s continued role became known, according to the FT.
Two senior Democratic lawmakers apparently share the concern.
Sen. Elizabeth Warren (D-Mass.) and Rep. Raja Krishnamoorthi (D-Ill.) wrote a letter to Solomon stating that his decision to retain Ruemmler “call into question” the CEO’s “professional judgement and fitness to continue leading one of the largest banks in the United States,” according to Bloomberg News.
The Post has sought comment from Horwitz.
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