MAJOR SHIFT AT GOLDMAN SACHS: Marc Spilker Is Gone, Ed Forst Returns To Run Investment Management Division

Ed Forst

Marc Spilker has abruptly left Goldman Sachs.

Spilker has been co-CEO and co-head of Goldman Sachs Asset Management based in New York since 2008. He is stepping down from that position and leaving the firm altogether.

Ed Forst is returning to run Goldman’s investment management group, the person said. Forst has been a seniorĀ  strategist since returning to the firm last summer. He will now be co-head of IMD with Tim O’Neill.

Prior to that Forst headed up the investment management division. He left Goldman to become executive vice president of Harvard University in the summer of 2008. He overaw finance, administration and human resources at Harvard. Basically, he was helping them deal with the financial crisis.

Spilker, who had been chief operating officer of the investment management division, succeeded Forst, along with Tim O’Neill, as co-heads of the division.

“Goldman Sachs Asset Management has roughly $822 billion in assets under management, including in private equity, hedge funds and other managed accounts,” Zach Kouwe of the NY Times reports.

Update 2:18 PM: Zach Kouwe at DealBook has now obtained the memos sent out about Spilker’s departure and Forst’s new position.

Click here to read the Forst memo.
Click here to read the Spilker memo.

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