Stephen J. McGuinness, co-chief operating officer of the investment management division of Goldman Sachs, will retire April 30, according to an internal memo from division co-heads Timothy J. O’Neill and Edward C. Forst obtained by P&I Daily.
Co-COO Eric S. Lane will assume his responsibilities.
Mr. McGuinness, who joined the division in 2008 as global head of Goldman Sachs Asset Management distribution, was “instrumental in leading the distribution teams through a very turbulent time in the financial markets, starting with the financial crisis in 2008 as well as the regulatory events of 2010,” the memo stated.
Mr. McGuinness couldn’t immediately be reached for further comment. Andrea Raphael, GSAM spokeswoman, confirmed the contents of the memo.