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Goldman Sachs general counsel Kathy Rumler will resign this summer after documents released by the U.S. Justice Department revealed the extent of her relationship with sex offender Jeffrey Epstein.
Ruemmler told the FT that she would exit the Wall Street firm on June 30, saying: “I determined that the media attention related to my previous work as a defense lawyer was a distraction to me.”
His decision comes after documents revealed he had extensive discussions with Epstein between 2014 and 2019, long after he pleaded guilty in 2008 to charges of soliciting prostitution of a minor. Ruemmler joined Goldman in 2020.
Goldman Chief Executive David Solomon has stood by Ruemmler since his close ties to Epstein were first revealed in 2023. He said in a statement Thursday that she would be “deeply missed.”
“Throughout her tenure, Kathy has been an exceptional general counsel, and we are grateful for her contributions and sound advice on a wide range of resulting legal matters for the firm,” he said.
Ruemmler’s departure from Goldman represents one of the most high-profile corporate collapses since the widespread revelations of Epstein’s emails, which have reverberated from Wall Street to Westminster.
Brad Karp resigned as chairman of US law firm Paul Weiss last week following revelations about his ties to Epstein.
Justice Department disclosures show that Ruemmler made references to Epstein’s “Russians” in email communications about a potential job opportunity before joining Goldman. In a separate exchange, Ruemmler forwarded emails to Epstein about his affair with a close associate.
Epstein also gave Ruemmler gifts including Hermès bags, Apple products, spa appointments, haircuts, and air tickets. “I got totally tricked by Uncle Jeffrey today! Jeffrey shoes, handbag, and watch!” she wrote in an email in January 2019.
Ruemmler has said that she regrets knowing Epstein and had no knowledge of his criminal activities. On Thursday she said: “I made the decision based on the information available to me. I have a tremendous amount of sympathy and heartache for anyone he has hurt.”
Recent revelations showing the extent of Ruemmler’s contacts with Epstein have heightened frustrations at the Wall Street firm, according to multiple current and former executives.
Some members of Goldman’s board also privately expressed concern that Solomon’s support for Ruemmler could damage the bank’s reputation.
“It’s a distraction and it’s embarrassing,” said a person close to a Goldman board member before Ruemmler’s resignation. “It’s not the board’s job to hire and fire people. That’s the CEO’s role.”
Several former Goldman executives, who are part of the bank’s influential alumni network, also expressed disbelief at the way the Rumler case was handled.
Five former partners said they were surprised that Solomon decided to stand by Ruemmler rather than create distance between the company and the controversy. Several former officers described feeling “deeply embarrassed”, “crushed” and “deeply disappointed” by the episode.
Before her relationship with Epstein became public, Ruemmler had a reputation within Goldman as a popular, agile and accomplished lawyer.
Ruemmler, a former White House counsel in Barack Obama’s administration, was among the bank’s top executives and held senior positions on internal reputation risk and conduct committees. At the time she was in contact with Epstein, she was a lawyer at Latham & Watkins.
Goldman and Ruemmler had previously described their relationship with Epstein as “professional”, which included using their relationship with him for business development purposes.
