Goldman Investment Exec Departs

Goldman Sachs Asset Management CIO Eileen Rominger will step down at year-end.
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NEW YORK (

TheStreet

) --

Goldman Sachs

(GS) - Get Report

is parting company with Eileen Rominger, the chief investment officer of its asset management business, marking at least the second high-level change in recent days of a unit on which Goldman is pinning big future hopes for growth.

Rominger was the first-ever CIO of Goldman Sachs Asset Management (GSAM) when she was promoted to the role in April 2009, according to

Financial News

, which

broke the news of her departure

. She will leave at the end of the year and won't be replaced, the report states. A call to Rominger was not immediately returned, nor was an email to a Goldman Sachs spokeswoman.

Rominger's departure follows the appointment, announced last week, of chief economist

Jim O'Neill

as chairman of GSAM, in what Goldman said was a newly created role.

In a call with analysts in July to discuss Goldman's second quarter earnings, Goldman CFO David Viniar highlighted Goldman's investment management business, which includes GSAM as well as private wealth management, as one of the areas with the "biggest concentration"of new hiring activity.

GSAM assets under management fell by 5% to $802 billion in the second quarter, a drop Viniar said was consistent with "industry trends".

--

Written by Dan Freed in New York

.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.