Bonds News

MOVES-Goldman Sachs' chief risk officer retires

NEW YORK, Nov 6 (IFR) - Goldman Sachs chief risk officer Craig Broderick will retire after 32 years in January, according to an internal memo obtained by IFR. A Goldman Sachs spokesman confirmed the contents.

Broderick was credited with helping steer Goldman through the 2008 financial crisis where he “demonstrated a deep and broad understanding of risk coupled with a sure and steady hand,” according to the memo signed by Goldman Chief Executive Lloyd Blankfein and co-presidents David Solomon and Harvey Schwartz.

Goldman tapped Robin Vince, currently serving as treasurer, to become chief risk officer effective January 31. He will lead the firm’s risk division and be responsible for setting overall risk management standards. He will also join the firm’s management committee.

Vince joined Goldman as an analyst in 1994. He was named managing director in 2002 and partner in 2006.

Beth Hammack, global head of short term rates trading, will replace Vince as global treasurer.

Broderick joined Goldman Sachs in 1985 in the credit department in New York. He was named managing director in 1998 and partner in 2000. Upon his retirement, he will become a senior director. (Reporting by Philip Scipio; editing by Shankar Ramakrishnan)