Top Goldman banker with legendary roots John Weinberg is retiring

Goldman Sachs' banker John S. Weinberg is retiring after 32 years at the investment banking giant, according to an internal memo. 

Weinberg had been serving as a vice chairman since 2006. He's now going to become a senior director.

"We are very pleased that he will become a senior director," Lloyd Blankfein and Gary Cohn wrote in the memo.

"John has been an extraordinary leader of our client franchise and steward of the Goldman Sachs culture. He is passionately committed to our Business Principles, which served as the foundation for everything he did on behalf of the firm - from serving our clients to leading the Investment Banking Division (IBD) and enhancing our culture."

The memo continued: "During his more than three decades at the firm, John was responsible for many of our most important clients. His work as a trusted advisor has been characterized by integrity, transparency, humility and a deep understanding of each client's business. As a result, his advice and counsel have been deeply valued by corporate leaders across industries." 

Weinberg co-headed Goldman's investment bank from 2001 until late last year. Back in December, the bank selected John Waldron to replace him. 

Weinberg, 58, joined Goldman in 1983 as an associate. He's held a number of leadership roles in his tenure. He became a partner in 1992.

Weinberg also has deep roots at Goldman. He's the son of former Goldman Sachs management committee chairman John L. Weinberg, who passed away back in 2006. He's also the grandson of Sidney J. Weinberg, who was CEO of Goldman from 1930 until 1969.

The news of Weinberg's retirement was first reported by Bloomberg News.

Here's the full memo: 

After 32 years of distinguished service, John S. Weinberg has decided to retire from the firm.

We are very pleased that he will become a senior director. John has been an extraordinary leader of our client franchise and steward of the Goldman Sachs culture. He is passionately committed to our Business Principles, which served as the foundation for everything he did on behalf of the firm - from serving our clients to leading the Investment Banking Division (IBD) and enhancing our culture.

During his more than three decades at the firm, John was responsible for many of our most important clients. His work as a trusted advisor has been characterized by integrity, transparency, humility and a deep understanding of each client's business. As a result, his advice and counsel have been deeply valued by corporate leaders across industries.

During his 13 years as co-head of IBD, John helped to grow and diversify our business across regions, industries and products. His leadership, devotion and client focus played an invaluable role in contributing to the preeminent franchise IBD is today. John has also been deeply committed to our people, dedicating significant effort to developing and mentoring professionals across divisions and regions.

Through his commitment, John has helped develop many of our leaders who today drive client service, innovation and execution. John began his career at the firm in 1983 as an associate in Corporate Finance, later working in Mortgage Finance. He served as co-head of Investment Banking in the Americas, and from 1997 to 2001 he was co-head of Investment Banking Services.

John was later named co-head of the Investment Banking Division. He was named vice chairman of the firm in 2006. In 2014, we asked John to focus on client development and initiatives across our major divisions. John is a member of the Mana 

Those who know John well know that his family is at the very center of his life. Please join us in expressing our profound gratitude for John's extraordinary leadership of and service to Goldman Sachs and in wishing him, his wife Amy and his family the very best for the future. We look forward to continuing to benefit from his advice and counsel.

Lloyd C. Blankfein Gary D. Cohn