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Top Goldman Sachs executive opposed David Solomon’s backing of Kathy Ruemmler
Russell Horwitz, one of few executives to raise the taboo subject, is leaving the bank
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Joshua Franklin in New York and Arash Massoudi in London
PublishedJune 10 2026
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Goldman Sachs’ outgoing chief of staff opposed chief executive David Solomon’s decision to back Kathy Ruemmler, the former general counsel whose ties to sex offender Jeffrey Epstein sparked controversy.
Russell Horwitz, a top executive at the investment bank, voiced concerns over Solomon’s decision to back Ruemmler for months even as documents released by the US government laid bare her ties to Epstein, according to three people familiar with the matter.
Horwitz told some associates that Solomon never stopped him from raising concerns. But one of the three people said Solomon’s backing of Ruemmler had become a taboo subject inside the bank, with very few senior executives willing to question his support for her.
“Russell was one of the few people who wanted to address it and everyone else didn’t. That was hugely frustrating for him,” the person said.
The bank announced last month that Horwitz was leaving his role at the end of June but “will become an advisory director at that time”. Horwitz said his change of role was not related to Goldman’s handling of the controversy around Ruemmler.
“No, that is not the reason I’m leaving Goldman Sachs,” Horwitz said in a statement.
Russell Horwitz, pictured, had been regarded by many as the anointed successor to John Rogers, an influential figure and power broker at the bank© Goldman Sachs
Horwitz’s disagreement with Solomon underscores the tensions inside Goldman over the decision to allow Ruemmler to remain in post after disclosures by the US Department of Justice detailed interactions with Epstein that continued until months before his death in 2019. Ruemmler joined the bank the following year.
After months of reports about her ties to Epstein, Ruemmler announced in February that she was relinquishing her roles as general counsel and chief legal officer. She said that her ties to the disgraced sex offender had become a “distraction”. Solomon said at the time that he had “reluctantly accepted her resignation” while praising her as a “tremendous” person.
On Friday, however, it emerged that Solomon had asked Ruemmler to remain with the bank in an advisory role even after she gives up her position as general counsel at the end of this month.
One Goldman executive described a state of “shock” inside the bank when the news broke on Friday.
Horwitz’s move was a surprise inside the bank, where he had been regarded by many as the anointed successor to John Rogers, a hugely influential figure and power broker who serves as secretary to the board of directors. Rogers, who at 70 is 15 years older than Horwitz, is not expected to step back from his responsibilities in the foreseeable future.
Horwitz was close to former chief executive Lloyd Blankfein and left the bank once before, two years into Solomon’s tenure, in 2020. But Goldman wooed him back as a partner in 2023, handing him Rogers’ responsibilities as chief of staff.
In the role, Horwitz has run the bank’s executive office, giving him close access to Goldman’s top executives. He also has been responsible for its public-facing operations.
The documents released by the DoJ in 2025 and early 2026 brought unwelcome attention to Goldman and raised questions about the judgment of the bank’s most senior lawyer.
They showed that Epstein lavished gifts on Ruemmler, prompting her to write in a 2019 email that she was “totally tricked out by Uncle Jeffrey today!”. On another occasion, she referenced Epstein’s “Russians” in discussions about a job opportunity.
Ruemmler has said she regretted ever knowing Epstein and that she had no knowledge of his criminal activities.
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