Warren, Krishnamoorthi Raise Concerns About Kathy Ruemmler’s New Role At Goldman Sachs Following the Bank’s Refusal To Answer Questions About Her Planned Departure Due to[...]

Warren, Krishnamoorthi Raise Concerns About Kathy Ruemmler's New Role At Goldman Sachs Following the Bank's Refusal To Answer Questions About Her Planned Departure Due to Epstein Ties

Letter comes as Ruemmler sits for questioning in the House Oversight Committee on her ties to Jeffrey Epstein

Letter details concerns with Ms. Ruemmler's continued employment, Goldman Sachs' hiring of reputation risk firm to launder Ruemmler's image

Text of Letter (PDF)

Washington, D.C. - U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, and Representative Raja Krishnamoorthi (D-IL), Ranking Member of the Subcommittee on Health Care and Financial Services on the House Oversight Committee, sent a second letter to Goldman Sachs CEO David Solomon and Ruemmler raising concerns regarding Ruemmler's continued employment with Goldman Sachs despite her ties to convicted sex criminal Jeffrey Epstein and her previously announced resignation date of June 30.

"On January 30, 2026, the DOJ released a slew of documents, images, communications, and other materials related to the investigation and prosecution of Jeffrey Epstein and Ghislaine Maxwell. According to reports, the documents reveal that Ms. Ruemmler and Mr. Epstein were in frequent contact between 2014 and 2019," wrote the lawmakers. "Emails released by the DOJ, for example, appear to show that (Ruemmler) 'educated (Epstein) on how the law differentiates between underage victims of sex crimes and adult prostitutes" and "offered advice on how to knock down the credibility of one of his accusers.'"

The lawmakers continued: "In the wake of these public disclosures, Ms. Ruemmler announced that she would resign from Goldman Sachs effective June 30, 2026, noting that the details of her relationship with Mr. Epstein had become a 'distraction.' Still, in March, it was announced that she received an 11 percent raise, bringing her total compensation for 2025 to an astounding $25 million. Her company stock options, which are valued at about $80 million, are expected to vest over the next two years."

The lawmakers detailed Goldman Sachs' insufficient response to their first letter: "On June 9, 2026, we sent a letter to Mr. Solomon requesting the specific details of Ms. Ruemmler's departure date, compensation, interim role, and relationship with Mr. Epstein. The bank's June 26, 2026 response was insufficient-and in fact, it raised more questions than answers. Specifically, though the response stated that 'Ms Ruemmler (would) retire from' the roles of 'chief legal officer and general counsel of The Goldman Sachs Group, Inc. . . . on June 30 as previously announced,' the letter did not explicitly state when Ms. Ruemmler would depart the firm. Instead, it simply stated that 'Ms. Ruemmler will serve in an advisory role as senior counselor during the transition period leading up to the appointment of a new chief legal officer.' The length of this 'transition period,' and Ms. Ruemmler's plans, if any, to continue her work at the firm afterwards along with her compensation, remain unclear."

The lawmakers requested answers from Ms. Ruemmler and Goldman Sachs on her continued employment, asking the following questions:

1. "Goldman Sachs has stated that Ms. Ruemmler will stay on at the firm in a senior counselor role "during the transition period leading up to the appointment of a new chief legal officer."
   1. What are the duties associated with this position? Provide copies of any job description or written communications describing the position.
   2. What is Ms. Ruemmler's new compensation package? Provide documentation.
   3. How long is the "transition period" anticipated to last?
2. "On what date will Ms. Ruemmler depart the firm? If you cannot provide a specific date, please confirm in writing that Goldman Sachs will not offer Ms. Ruemmler a new position at the end of the "transition period leading up to the appointment of a new chief legal officer."
3. "How did you both come to the agreement that you would no longer depart the firm on June 30 but would instead stay on in a high-level advisory role?
4. "Has Ms. Ruemmler recused herself from the selection process of her successor? If she has not yet, why not?"

The lawmakers also raised concerns and pressed Ms. Ruemmler and Goldman Sachs for details about noted reputational risk firm Parakeet's work on behalf of Ms. Ruemmler and the bank, following a guest opinion profile of Ms. Ruemmler in the New York Times Opinion section.

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