Key facts
- US lawmakers Elizabeth Warren and Raja Krishnamoorthi are concerned about Goldman Sachs CEO David Solomon's reported plan to retain Kathy Ruemmler as an adviser.
- Ruemmler, Goldman's legal officer, has documented ties to Jeffrey Epstein, including accepting gifts and providing advice.
- Ruemmler's resignation as legal officer is effective June 30.
- Lawmakers questioned Solomon's professional judgment and fitness to lead Goldman Sachs.
- Responses from Solomon were requested by June 26.
U.S. Democratic lawmakers Elizabeth Warren and Raja Krishnamoorthi have voiced concerns to Goldman Sachs CEO David Solomon regarding the reported plan to keep top lawyer Kathy Ruemmler on as an adviser, despite her past ties to the late financier Jeffrey Epstein. Ruemmler, who is set to resign as the bank's legal officer on June 30, accepted gifts from and advised Epstein, according to documents published by the U.S. Justice Department. The lawmakers highlighted that recent information suggests Ruemmler maintained extensive contact with Epstein years after his conviction. In a letter to Solomon, the lawmakers questioned whether Goldman Sachs conducted proper due diligence or deemed Ruemmler's relationship with Epstein appropriate when appointing her as top lawyer. They stated that the current situation calls into question Solomon's professional judgment and fitness to lead one of the largest banks in the United States. The lawmakers have requested that Solomon provide the reasoning, new title, duties, and compensation details if Ruemmler is indeed staying at the firm. They also asked if Solomon "pressed" Ruemmler to stay and why. Responses were requested by June 26.