Articles by James Franey

Business

Goldman Sachs CEO David Solomon backs bank’s top lawyer, onetime Epstein ally Kathy Ruemmler

Goldman Sachs CEO David Solomon voiced support Wednesday for the bank’s general counsel Kathy Ruemmler in the aftermath of Congress’ release of emails showing her close ties with convicted sex offender Jeffrey Epstein. “She’s an excellent lawyer, and the organization relies on her guidance every single day,” Solomon said in a CNBC interview, responding to questions about potential fallout from details of Ruemmler’s relationship with Epstein. The comments came after days of speculation about that connection, which appeared to be closer than previously known. Ruemmler recently irked some Goldman employees by sending a company-wide memo urging the rank-and-file to be careful about their communications. “What and how you communicate reflects on you and the reputation of the firm,” the lawyer emphasized. Some workers found the missive tone-deaf. “The fact they’d put her name on this after last week’s emails … it’s beyond offensive,” one insider said. The person was referring to a trove of correspondence Ruemmler and Epstein sent each other between 2014 and 2019 — well after Epstein pled guilty to prostitution charges in 2008 and settled civil lawsuits brought by multiple victims in 2010. The messages were among a mountain of emails the House of Representatives’ Oversight Committee released last week amid growing pressure for authorities to release the so-called “Epstein files.” Between their friendly banter, Trump emerged as a subject of frequent discussion for Ruemmler and Epstein. In one exchange from 2017, the lawyer called Trump “so gross,” prompting the disgraced financier to reply: “Worse in real life and upclose [sic].” Ruemmler joined Goldman in 2020 after working in private practice at Latham & Watkins, informing the bank that Epstein had offered his network to help her former law firm generate business, according to The Wall Street Journal. After Ruemmler left the Obama administration, which she served as White House counsel, she reportedly met dozens of times with Epstein before joining Goldman — with the sicko even inviting her to Paris in 2015 and to his Caribbean Island in 2017, according to The Journal. She never accepted travel from him or visited the notorious island, a Goldman spokesman previously said. She was reportedly named a backup executor in Epstein’s January 2019 will, prior to his arrest and suicide later that year. Following 2023 revelations about her meetings with Epstein, the Goldman lawyer said she regretted ever knowing him. Similar revelations have harmed other prominent figures, including economist Larry Summers, who has withdrawn from public roles with Bloomberg Television and the board of OpenAI. Apollo Global Management co-founder Leon Black resigned as CEO in 2021 after paying Epstein $158 million for advice. Former Barclays CEO Jes Staley resigned the same year and faced a lifetime UK finance ban over his Epstein friendship.