From the moment the story broke, we’ve been sceptical that Goldman co-president Jon Winkelried’s retirement was just about spending time with his family on his Colorado horse ranch. That sounds nice and all but not many 49 year old masters of the universe choose that path.
Now it seems the truth is leaking out. Winkelried might want to spend time with his family but he was helped in reaching that conclusion by realising he wasn’t ever going to be spending time as the chief executive of Goldman.
Jon Winkelried’s retirement as co-president of Goldman Sachs Group Inc. (GS) was tied to dim chances of ever taking the firm’s top spot, according to people familiar with the matter.
Winkelried told Goldman Sachs Chief Executive Lloyd Blankfein last week that he would leave the firm March 31. One reason behind the move was Winkelried’s growing realisation that he was “not in the pole position” to take over the CEO spot, said one person at the bank who was not authorised to speak publicly.