Goldman Sachs Lawyer Resigns Amid Epstein Controversy

Kathy Ruemmler, a prominent lawyer at Goldman Sachs, is set to retire, and her decision has taken the bank by surprise. This comes in the wake of revelations about her close correspondence with Jeffrey Epstein just days before his death.

The bank announced her departure late Thursday, but Ruemmler won’t officially leave until June 30. Interestingly, it was her choice, and sources suggest she caught Goldman off guard with this news.

In a statement, Ruemmler expressed, “I believe that the media scrutiny surrounding me has interfered with my past responsibilities as a defense attorney.” This follows a public uproar after an email surfaced, showing her signing off to Epstein with “xoxo” and wishing him a happy birthday.

After learning about the email, Ruemmler reportedly contacted CEO David Solomon to share her decision, leading to a somewhat inappropriate joke about Epstein, according to insiders.

Earlier this year, the Justice Department released documents indicating that Ruemmler accepted extravagant gifts from Epstein, including a $9,400 Hermès handbag and a spa day at a luxury hotel.

Following the scandal, it was noted that Solomon had been supportive of Ruemmler, despite some displeasure among senior executives and former employees at the firm. He remarked in a statement, “Kathy has provided exceptional counsel during my time as CEO, and I value her insights on various legal matters that affect our organization.”

Connelly, Ruemmler’s spokesperson, defended her, stating that she had not acted improperly and emphasized there was nothing indicating otherwise.

Interestingly, until this recent turmoil, Solomon had shown loyalty to Ruemmler, which hinted at the challenges he faced in the early years of his leadership. After he took over in 2018, there were initial doubts about his capability, leading to damaging leaks from disgruntled employees. However, he managed to maintain his position by dismissing those critics and rallying support from allies, which included Ruemmler.

As for her role, Ruemmler became Goldman’s chief legal officer in 2020 before being appointed general counsel in the following year, a significant position within the firm. It’s notable that she was not part of Goldman’s usual hierarchy but was considered a loyal associate of Solomon.

Connelly also clarified that Epstein never engaged Ruemmler as a legal representative.