Goldman Sachs senior exec Jim Esposito to retire after 3 decades at bank

Jim Esposito, co-head of Goldman Sachs' global banking and markets division, plans to retire after almost three decades at the bank, according to a memo seen by Reuters on Monday.

Esposito, who jointly runs Goldman's powerhouse trading and investment banking unit alongside Dan Dees and Ashok Varadhan, will become a senior director. Esposito has also served as the co-chair of Goldman's partnership committee since 2021.
 

In his work across fixed income, equities and investment banking, "Jim has also helped our businesses navigate extraordinary change in our industry, including structural developments driven by technology and regulation," CEO David Solomon wrote in the memo announcing the departure.
 

The Wall Street giant merged its banking and trading division in 2022 in a shakeup that eventually saw the firm deepen its focus on the traditional mainstays and step back from an ill-fated foray into consumer banking.
 

Esposito joined Goldman in 1995 as a salesperson for emerging markets debt, according to his profile on the bank's website. He was promoted to managing director in 2002 and became a partner four years later.
 

Esposito's departure was first reported by the Wall Street Journal.