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Goldman Sachs Will Need To Provide Multiple Successors For CFO David Vinair

Generally speaking, when people gather around to play a parlor game of guessing who will replace whom on Wall Street, they a) are discussing Chief Executive Officers and b) choosing one of several names for their pick of successor. Not today. Because today we speak of David Viniar, Goldman Sachs’ Chief Financial Officer since 1999. According to Bloomberg, DV “may not be replaceable,” period. Logic dictates that that should be the end of the discussion. In the event Viniar decides not to work for Goldman in perpetuity, however, contingency plans must be made. As such, a few names of potential successors have been thrown out (Controller and Chief Accounting Officer Sarah Smith, Treasurer Elizabeth “Liz” Beshel) and while they sound like okay candidates, are simply not enough. Because in this particular case, we need an army to replace one man.

The longest-serving chief financial officer of any major Wall Street firm may find his multiple roles distributed among two or even three deputies when he eventually steps down, according to two people with knowledge of the firm’s internal deliberations…Some executives at the firm are skeptical that any single successor would be as adept as Viniar in handling all those functions, the people familiar with the situation said.

Has the gravity of the situation not yet penetrated? Then let us lay some truth on your ass.

Investors are more concerned about Viniar’s eventual successor than they are about replacing Blankfein, 56, the chairman and chief executive officer since 2006, said Roger A. Freeman, an analyst at Barclays Capital…“David’s the brains behind the operation — the institutional knowledge that guy has is just unmatched,” said Roger A. Freeman, an analyst at Barclays Capital, who has a “neutral” rating on Goldman Sachs shares. “It’s difficult to imagine that there are many people that can juggle as many balls as he does seemingly effortlessly.”

That’s right, ladies. While Lloyd has been working us with that smile, it’s been Viniar who’s been working the command center. When he leaves, which he says he won’t “until a sense of calm has been restored in the operating environment,” Goldman is going to have to provide forty, possibly fifty people, working at together at full capacity, to maybe do the job of one Viniar.

Being Goldman Sachs’s Brains May Make Viniar Irreplaceable CFO [Bloomberg via BI]

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75 Responses to “Goldman Sachs Will Need To Provide Multiple Successors For CFO David Vinair”

  1. If Viniar and Lloyd depart GS in 2012 I am heading straight for my bunker.

  2. If Viniar and Lloyd depart GS in 2012 I am heading straight for my bunker.

  3. Texashedge says:

    Erin Callan is available

  4. Guest says:

    I’ll be available soon.

    – A. Fastow

    • Texashedge says:

       Lou Pai is already out, and you can pay him in one dollar bills.

      • guest says:

        and he doesnt have a criminal record

        — guy who watched the smartest guys in the room once, on an airplane

      • Lou_Pai says:

        Lou Pai own half of New Mexico and doesn’t need the money Bitches.

        • East Texas Gas Trader says:

          More on Lou from Wiki.  He don’t have the mountain in Colorado anymore:

          “Pai is currently investing in pollution emission credits at Element Markets, LLC.[13]
          On July 30, 2008, Pai agreed to resolve the civil insider trading charges against him with an out-of-court settlement of $31.5 million, including $1.5 million in civil fines and $30 million in restitution, to be deposited into a fund for shareholders harmed by Enron’s bankruptcy.[6] He continues to neither admit nor deny the Securities and Exchange Commission claims that he sold millions of shares of Enron stock based on non-public information about the company’s financial problems. It is one of the largest settlements in the history of the SEC’s enforcement program dealing with an individual for alleged insider trading.[6] As part of the settlement, Pai is also barred from serving as an officer or director of a public company for five years.[14]”

    • Texashedge says:

       Lou Pai is already out, and you can pay him in one dollar bills.

  5. Guest says:

    I’ll be available soon.

    – A. Fastow

  6. Wahoo says:

    I could probably penetrate the gravity of the situation

    – E. Spitzer

  7. Deliciousssss says:

    I love being penetrated by gravity.

    -Physics pervert

  8. Guest says:

    He looks like Sandra Bernhard.

  9. Guest says:

    He looks like Sandra Bernhard.

  10. CoveredLong says:

    Choot Em Liz!!

    -Troy Landry

  11. Asd says:

    It’s difficult to imagine that there are many people that can juggle as many balls as he does

  12. Asd says:

    It’s difficult to imagine that there are many people that can juggle as many balls as he does

  13. bead says:

    i know his son just started as an analyst at gs. turn it into a family business?

  14. bead says:

    i know his son just started as an analyst at gs. turn it into a family business?

  15. Guest says:

    Dear God,
            We have considered many valuable candidates for the position of CFO, and while your work of creating the heavens and earth, making it to the 2,987,432 interview round, and proficient modeling skills were all impressive, we regret to inform you that we will not be continuing your candidacy for CFO of Goldman Sachs & Co.

           Thank you and we will keep your resume on file for the next 6 months if another position becomes available.

    Sincerely,
    – Goldman Sachs Immortal Capital Management

  16. Guest says:

    Dear God,
            We have considered many valuable candidates for the position of CFO, and while your work of creating the heavens and earth, making it to the 2,987,432 interview round, and proficient modeling skills were all impressive, we regret to inform you that we will not be continuing your candidacy for CFO of Goldman Sachs & Co.

           Thank you and we will keep your resume on file for the next 6 months if another position becomes available.

    Sincerely,
    – Goldman Sachs Immortal Capital Management

  17. early hominid says:

    Me too.  Look how fast my shop shut down once I got knocked out of the box.  But do people ever talk about how indispensable I was?  No, they don’t. You never hear about that. . 

    – Bernie M.

  18. Anonymous says:

    Where should I send my resume?

    – JC Trichet

  19. Guest says:

    This weekend and Jos. A. Bank hire one CFO get two additional CFOs for FREE!

  20. trojan says:

    if you widen the angle of the photo, you will note there is a German pension fund bending over, prepping itself for Viniar’s fist

  21. Guest says:

    DSK DSK DSK!

  22. Guest says:

    Is he retelling some sort of masturbation story?

    -unsure dude…

  23. G-money says:

    I saw this article yesterday and knew Bess would write a piece about it…

    – Gartman 

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