Goldman Sachs Loses Top Legal Mind As Executive Exodus Continues

This week Goldman Sachs’ top lawyer, Karen Seymour, is reportedly leaving her post at the financial institution, according to a report from Bloomberg. Seymour, the bank’s General Counsel, has been initially joined in 2018 and has steered Goldman Sachs through tricky legal waters.

Last year, Goldman Sachs agreed to pay over $2.9 billion in a settlement with the U.S. Department of Justice and other U.S. and overseas regulators in part for breaking anti-bribery laws.

During her tenure, the bank has grappled with the fallout from its involvement in the Malaysian 1MDB corruption scandal. Last year, she helped Goldman Sachs to negotiate a $2.9 billion settlement with the US regulators, including the Department of Justice for its part in the scandal.

According to insiders cited by Bloomberg, Kathryn Ruemmler, a veteran of the Obama administration, will take the reins as the firm’s new General Counsel. Ruemmler is currently the firm’s Head of Regulatory Affairs.

The revelation of Seymour’s departure follows a string of high-profile Goldman Sachs executives who have reportedly left the bank for greener pastures. On Monday, Reuters reported that Eric Lane, the Global Co-Head of Goldman’s asset management arm, is leaving to join Tiger Global Management. Earlier this week, Omer Ismail, the newly promoted head of Goldman’s consumer bank, also reportedly handed in his notice to join Walmart’s fintech startup.

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