J. Michael Evans, a Goldman Sachs vice chairman, is retiring, the firm said on Monday.
Mr. Evans’s name has at times been floated as a possible candidate to succeed Lloyd C. Blankfein as head of the influential Wall Street firm. But in a memo sent to Goldman employees on Monday, Mr. Blankfein, Goldman’s chief executive, and Gary D. Cohn, his second-in-command, announced that Mr. Evans, 56, had decided to retire and would leave at the end of the year.
“Michael has played a number of leadership roles in building important businesses and growing our client franchise across divisions and regions,†Mr. Blankfein and Mr. Cohn wrote.
Mr. Evans, who joined Goldman in 1993, has run a number of big divisions at the bank, most recently global head of growth markets.
But he is best known outside the bank for his leadership role on Goldman’s Business Standard’s Committee, a group formed after the financial crisis as part of a push by the bank to be more transparent after criticism that it put its own interests ahead of those of clients.
Over the years, it has been suggested that Mr. Evans, a Canadian and one-time Olympic-level rower, might succeed Mr. Blankfein as chief executive. His name, however, has come up less in recent years, leading to speculation inside the bank that he might move on.
Below is the memo from Mr. Blankfein and Mr. Cohn:
After more than 20 years of outstanding service, J. Michael Evans, a vice chairman of Goldman Sachs and global head of Growth Markets, has decided to retire at the end of the year.
Michael has made many significant contributions to the firm. Over the last three years, as co-chair of the firm’s Business Standards Committee, he helped oversee the most extensive review of the firm’s business standards and practices in its 144-year history. The committee’s work resulted in significant changes in how the firm addresses important issues related to clients, reputational risk and accountability.
Michael has played a number of leadership roles in building important businesses and growing our client franchise across divisions and regions. He joined Goldman Sachs in 1993 in the Investment Banking Division in London and was named partner in 1994.
As global head of Equity Capital Markets, he was at the center of many privatizations in Europe and Asia Pacific in the 1990s and went on to play an integral role in the success of the firm’s initial public offering in May 1999.
In 2001, Michael became co-head of the Equities Division, working in both New York and London. Two years later, he became global co-head of the Securities Division, where he helped cement our position as a leading market maker and underwriter to investors and companies globally.
In 2004, Michael relocated to Hong Kong as chairman of Goldman Sachs Asia Pacific, a position he held for seven years. There, he helped shape our strategy and footprint, deepen our leadership bench and develop important client relationships. He also was directly involved in the establishment of the firm’s domestic business in China, including the important strategic relationship with ICBC, China’s largest commercial bank.
Michael was named a vice chairman of Goldman Sachs in 2008. In 2011, he was named global head of Growth Markets, responsible for driving our strategy, resource allocation and many client relationships across the firm in these important markets.
Outside of the firm, Michael is chairman of the board of Right to Play USA and a board member of City Harvest. He is also a trustee of the Asia Society and a member of the Advisory Council for the Bendheim Center for Finance at Princeton University.
Michael’s commitment to the firm, his focus on our clients and his deep, global market knowledge have left an extraordinary record of contribution. We are pleased that Michael will become a senior director upon his retirement and that we will continue to benefit from his advice and counsel. Please join us in thanking Michael for his dedication to our business and our people, and in wishing him the best for the future.
