Robert Kaplan, former president and CEO of the Dallas Fed, will reunite with Goldman Sachs and join the New York-based financial firm.
Upon his return, Mr. Kaplan will be based in Dallas and will serve as vice chairman and member of the Management Committee, which is responsible for strategy and policy development across all of Goldman Sachs' businesses.
Previously, he worked at Goldman Sachs from 1983 to 2006, becoming a partner in 1990.
Mr. Kaplan's leadership experience, including his many years at Goldman Sachs and his nearly 10 years as professor of management practice and senior associate dean at Harvard Business School, will serve him well upon his return. David said. Solomon is Chairman and CEO of Goldman Sachs.
“Rob brings a wealth of knowledge, deep relationships and significant global leadership expertise to his role as vice chairman,” Solomon said in a statement. “During his many years at Goldman Sachs, he held a number of senior management positions, developed our company's major businesses, built relationships with many of our most important customers, and excelled in teamwork and We are invested in our unique culture of excellence and look forward to welcoming Rob back to Goldman Sachs.”
The hiring comes less than four months after the Federal Reserve's Office of Inspector General concluded its investigation into Kaplan, which looked into his stock trading during the coronavirus pandemic. It was done at my house.
Although he was cleared of wrongdoing, the Fed said the investigation shed light on insider trading at a pivotal time that threatened to sow seeds of distrust in one of the world's most powerful banking institutions. Stated.
“In our opinion, this lack of information did not support the public's confidence in the impartiality and integrity of the policymakers and senior staff who carry out the government's public mission.” [Federal Open Market Committee’s] We must get the job done, especially at this critical time,” the department said in its report.
Mr. Kaplan resigned in 2021 shortly after, saying he didn't want his trades to get in the way of the Fed's mission to support economic recovery during the pandemic. He held more than $1 million each in stocks, funds and alternative assets in companies including Apple, Alibaba, Amazon, Facebook, Google and Tesla.
Since leaving the Dallas Fed, he has been a frequent guest on CNBC, discussing topics such as Fed rate cuts and inflation. He is also co-chairman of the Draper Richards Kaplan Foundation, a venture philanthropy company, and a leading figure in other philanthropic organizations.
The hire also comes as Goldman Sachs seeks to expand its presence in Dallas, where it has an 800,000-square-foot campus on North Field Street. The $500 million Dallas location is expected to employ approximately 5,000 people when it opens in 2027.
Mr. Kaplan, who has returned to Goldman Sachs, said he is ready to get back to work, offer his expertise to the firm's clients and support the career development of his soon-to-be colleagues.
“I am excited about the opportunity to once again assume this important leadership role and contribute to our company's commitment to teamwork, leadership development, and the relentless pursuit of excellence in everything we do,” Kaplan said in a statement.
“The people at Goldman Sachs have had a tremendous impact on me professionally. I look forward to contributing to strengthening and preserving our unique culture.”
