Key facts
- U.S. lawmakers Elizabeth Warren and Raja Krishnamoorthi have written to Goldman Sachs CEO David Solomon.
- They expressed concerns about keeping Kathy Ruemmler as an adviser due to her ties to Jeffrey Epstein.
- Ruemmler accepted gifts from Epstein and advised him on media inquiries regarding his crimes.
- Solomon reportedly asked Ruemmler to remain at the firm as an adviser after her June 30 resignation.
- Lawmakers questioned Goldman's due diligence and Solomon's judgment in light of Ruemmler's relationship with Epstein.
- Ruemmler is now helping to find her own replacement as Goldman's top lawyer.
U.S. lawmakers Elizabeth Warren and Raja Krishnamoorthi have formally raised concerns with Goldman Sachs CEO David Solomon regarding his reported plan to retain Kathy Ruemmler as an adviser. Ruemmler, the firm's legal officer, is set to resign on June 30, but Solomon has allegedly asked her to stay on in an advisory capacity. The lawmakers' letter highlights documents published by the U.S. Justice Department indicating Ruemmler accepted gifts from the late sex offender Jeffrey Epstein and advised him on handling media inquiries related to his crimes. The lawmakers expressed that Ruemmler's extensive contact with Epstein years after his conviction raises serious questions about Goldman Sachs' due diligence and Solomon's professional judgment. They have requested detailed explanations regarding Ruemmler's potential new role, duties, compensation, and the reasoning behind her continued employment. This situation follows an earlier report that a top Goldman executive had opposed Solomon's support for Ruemmler due to her Epstein ties, indicating internal disagreement within the firm's leadership. Ruemmler is now reportedly assisting in the search for her own replacement.