: Goldman Sachs asset and wealth management executive to retire, as others join firm

Goldman Sachs Group Inc. GS executive Laurence Stein is retiring after 27 years at the bank, according to an internal memo seen by MarketWatch. Stein was most recently executive vice president and chief operating officer of Goldman Sachs Asset & Wealth Management and a member of the Goldman Sachs management committee. He will remain at the firm until the end of the year. Stein formerly worked as chief administrative officer and held several other senior roles. “Throughout his long tenure at the firm, Laurence has demonstrated outstanding dedication and made a lasting impact in every business and team he has been involved in,” Goldman Sachs chief executive David Solomon said in a statement. Other recent changes at the unit include Patrick O’Donnell named as managing director and global co-head of consultant relations at Goldman Sachs Asset Management. He formerly worked at BlackRock Inc. BLK where he was managing director and senior leader in the global consultant relations team. He joins Lauren Oakes as co-head of consultant relations team. Oakes was most recently the Americas head of consultant relations. Goldman Sachs Asset Management has also named  Aurin Bhattacharjee and Jamison Hill as managing directors in sustainable investing. Bhattacharjee formerly worked at DTCP Growth Equity and Hill was formerly at Base10 Partners. Goldman Sachs stock is up by 0.3%. The stock has fallen by 4.9% in 2023, compared to a 4.7% increase by the Dow Jones Industrial Average DJIA.

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