President and Co-Chief Operating Officer Jon Winkelried is retiring at the end of March, the firm said Tuesday in a statement.
Winkelried, who has worked at Goldman since 1982, was promoted to his current position and awarded a seat on the board of directors in June 2006. He earlier served as co-head of both the investment banking and fixed income divisions. He will remain on the board as a senior director.
"Jon has had a distinguished 26-year career at the firm and has played a key role in helping to establish and build many of our global franchises," Goldman Chairman and CEO Lloyd Blankfein said in a statement. "He has helped to develop the firm's global strategy as an advisor, financier and co-investor and mentored many of Goldman Sachs' leaders."
Goldman shares closed down 11.1% to $85.71 in Tuesday's wide market selloff.
This article was written by a staff member of TheStreet.com.