Wall
Street giant Goldman Sachs's longstanding chief financial officer David
Viniar is stepping down after over three decades at the firm, to be
replaced by the bank's current global co-head of securities.

Harvey Schwartz will take the reins as CFO at the end of January 2013, said the firm in a statement.

"After a distinguished 32 year career at the firm, including 12 years
as the CFO, David Viniar has decided to retire and will join the board
of directors as a non-independent director at that time," said Goldman Sachs. The firm expects to appoint additional independent directors to its board in the near term.

Lloyd Blankfein, chairman and chief executive officer of the firm,
praised Schwartz's "deep experience in credit, liquidity, market and
operational risk.... and broad understanding of our business and our
clients."

Blankfein credited Viniar with steering the bank through the
financial crisis, during which it took a $10 billion bailout from the US
government, which was less than many peers. Viniar joined the firm in
1980 in the investment banking division. He is the longest serving CFO
of a major financial institution on Wall Street. Viniar was named
partner in 1992.

"David represents the very best of Goldman Sachs and its culture. We
look forward to continuing to benefit from his judgment and experience
as a member of our board in the years ahead,” said Blankfein.

Schwartz will assume Viniar’s responsibilities, including oversight
of operations, technology and finance and as co-head of the firm-wide
risk committee. Schwartz joined Goldman Sachs as a vice president in
1997, became a managing director in 1999, and was named partner in 2002.