New York, NY, United States (4E) – Goldman Sachs Group Inc. Vice Chairman Michael Evans will be retiring at the end of 2013 after more than 20 years at the company, according to a company statement on Monday.
Mr. Evans began working at Goldman in 1993, and one year later he was named as a partner in the same class as Gary Cohn, currently the firm’s president. Both executives were groomed as a possible successor to Goldman Chairman and Chief Executive Lloyd Blankfein, though Mr. Cohn appeared to be in a better position to replace Mr. Blankfein if he decides to retire.
Mr. Evans also served as co-chair of the company’s Business Standards Committee, where he introduced several changes aimed to improve Goldman’s controls and relationships with clients following questions about the way the firm is dealing with clients during the financial crisis.
In 2011, Mr. Evans was named as Goldman’s global head of growth markets, with the objective to lead the firm’s efforts in expanding into the fast-growing economies. The statement said that Mr. Evans will become a senior director after retirement.
Mr. Blankfein said that Goldman appreciates the role Mr. Evans played in building the company’s client franchise across Asia, and his work as co-chair of the Business Standards Committee that led to the comprehensive review of Goldman’s business standards and practices.