Goldman Sachs names ex-Dallas Fed chief Rob Kaplan as vice chairman

United States

Goldman Sachs Group Inc. on Tuesday named former Dallas Federal Reserve president Rob Kaplan as vice chairman and management committee member.

Goldman Sachs GS, +0.13% said Kaplan will rejoin the firm after he worked there for more than 20 years before retiring in 2006 to teach at Harvard University.

“Rob will also draw on his experience in the public and private sectors to offer perspectives to our clients and other stakeholders on the U.S. and global macroeconomic landscape,” the bank said in a statement.

He’ll also focus on mentoring, development of leaders at the firm across all levels.

From 2015 to 2021, Kaplan was president and chief executive of the Federal Reserve Bank of Dallas.

Prior to that, Kaplan was a senior associate dean at Harvard Business School.

While at Goldman Sachs, Kaplan had oversight of the investment bank and investment management units, worked in the bank’s executive office and member of its management committee.

His previous titles at Goldman Sachs included global co-head of the investment banking division starting in 1999; also global co-chief operating officer in 1998.

In 1990, worked in Japan as leader of the firm’s investment banking effort for the Asia Pacific region.

He became a partner at Goldman Sachs in 1990 after initially joining the bank 1983.

Goldman Sachs stock rose 0.7% on Tuesday. The stock is up 15.7% so far in 2024, while the Dow Jones Industrial Average DJIA has risen 3.4% this year.