Sen. Elizabeth Warren, ranking member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, and Rep. Raja Krishnamoorthi, ranking member of the House Oversight Subcommittee on Health Care and Financial Services, sent a second letter to Goldman Sachs CEO David Solomon and Kathryn Ruemmler seeking details on Ruemmler's continued employment after her previously announced June 30, 2026 resignation date. The lawmakers said Goldman Sachs' response to an earlier inquiry did not clarify whether or when Ruemmler will leave the firm, what her senior counselor transition role involves, or how she will be compensated. They linked the request to concerns arising from Department of Justice materials released in January that, according to reports cited in the letter, showed frequent contact between Ruemmler and Jeffrey Epstein between 2014 and 2019. The letter says Ruemmler had announced she would resign because the details of her relationship with Epstein had become a distraction, but Goldman Sachs later disclosed that she received an 11% raise, bringing her total compensation for 2025 to USD 25 million, while stock options worth about USD 80 million are expected to vest over the next two years. The lawmakers said Goldman Sachs' June 26 response only confirmed that Ruemmler would retire from her chief legal officer and general counsel posts on June 30 and then serve as senior counselor during the transition to a new chief legal officer. They asked for the duties and documentation for that role, her new compensation package, the expected length of the transition period, the date she will leave the firm, whether Goldman Sachs will rule out offering her another position afterward, how the decision to keep her on was reached, and whether she has recused herself from selecting her successor. The letter also seeks details on work performed by reputation risk firm Parakeet for Ruemmler and Goldman Sachs following a New York Times Opinion guest essay profiling her.
U.S. Senate Committee on Banking, Housing and Urban Affairs2026-07-15
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member and House Oversight member seek Goldman Sachs disclosures on Kathryn Ruemmler's role, pay and exit timeline
The ranking members of the U.S. Senate Banking Committee and a House Oversight subcommittee sent a second letter to Goldman Sachs and Kathryn Ruemmler seeking details on why Ruemmler remained at the firm after her announced June 30 departure. They said Goldman Sachs did not adequately answer earlier questions on her senior counselor role, compensation, transition period, final exit date and Parakeet's work on her behalf and for the bank.