Two Democratic lawmakers grilled Goldman Sachs CEO David Solomon on Wednesday over a decision to let outgoing Chief Legal Officer Kathryn Ruemmler stay with the bank as an adviser.
Ruemmler resigned in February – effective June 30 – amid souring public opinion. The Justice Department released documents in January revealing a close relationship between Ruemmler and convicted sex offender Jeffrey Epstein, whom the legal chief referred to in at least one email as “Uncle Jeffrey.” Documents showed the two met often for meals, and Epstein had gifts such as handbags and an Apple Watch delivered to Ruemmler, and treated her to hair, massage and facial appointments.
Epstein died in 2019, a year before Goldman hired Ruemmler. Solomon, in a statement after Ruemmler’s resignation, called her an “extraordinary general counsel” and “a mentor and friend to many of our people.”
However, reports last week that Solomon “pressed” Ruemmler to remain at Goldman after June 30 – and that she “agreed to stay on as an adviser” prompted Sen. Elizabeth Warren, D-MA, and Rep. Raja Krishnamoorthi, D-IL, to ask some questions.
Specifically, the lawmakers want to know, by June 26, whether Ruemmler is leaving and, if not, what her new title and compensation will be. Further, Warren and Krishnamoorthi are asking Solomon why he would keep her on.
“The information uncovered in recent months not only raises serious questions as to whether Goldman Sachs either failed to conduct proper due diligence or viewed Ruemmler’s relationship with Epstein as appropriate when appointing her as the firm’s top lawyer, but now calls into question your professional judgment and fitness to continue leading one of the largest banks in the United States,” the lawmakers wrote.
The lawmakers noted that Ruemmler chairs Goldman’s conduct committee, serves as co-vice chair of its reputational risk committee, and is a member of another risk committee.
“What criteria were evaluated when selecting her for these positions?” Warren and Krishnamoorthi asked. “Did Ruemmler’s relationship with Mr. Epstein play a role in the bank’s willingness to put Ruemmler in these positions?”
The lawmakers also cited a Goldman spokesperson’s statement indicating Ruemmler “has answered every question the firm has ever asked.”
Warren and Krishnamoorthi on Wednesday asked Solomon to list the questions the bank asked Ruemmler about Epstein, along with her responses.
A spokesperson for the bank also said Ruemmler “disclosed her association with Epstein before joining the firm,” the lawmakers noted, asking Solomon how the attorney described her relationship with Epstein.
“Did Ruemmler disclose that she advised Epstein on how to discredit one of his accusers?” the lawmakers wrote. “Did Ruemmler disclose that she accepted tens of thousands of dollars in gifts from Epstein?”
Further, they asked if Goldman conducted additional due diligence after Ruemmler’s disclosure, and whether the bank notified its regulators of the attorney’s Epstein ties ahead of hiring her.
Ahead of Ruemmler’s scheduled departure, further reports have surfaced this week in the Financial Times – one alleging the legal chief has participated in interviews to find her successor, and another alleging that Goldman’s outgoing chief of staff Russell Horwitz opposed Solomon’s stance backing Ruemmler.
Ruemmler received an 11.1% increase in compensation – to $25 million – in 2025, Goldman disclosed in March.
Warren and Krishnamoorthi, for their part, asked Solomon on Wednesday how much money Goldman could have saved if Ruemmler’s resignation was effective in February rather than June.
