Tuesday, 26 July 2016
Last updated 8 hours ago
Feb 16 2010 | 3:47am ET
Marc Spilker, co-head of Goldman Sachs Asset Management since 2008, is retiring from the Wall Street giant.
Spilker is a 20-year veteran of Goldman, and served as head of global alternative asset management at the firm from 2006 until his promotion to lead the firm’s asset management unit. He is, however, perhaps best known for his 2007 tiff with Kynikos Associates chief James Chanos.
Spilker and Chanos were neighbors in East Hampton, N.Y., and the former accused the latter of allowing a hedgerow on his property to block a common path to the beach. But when Chanos refused to do anything, Spilker-hired contractor bulldozed Chanos’ hedges.
Edward Forst will take the reins from Spilker, just six months after rejoining the firm after a 16-month absence. Forst spent the intervening period overseeing finances at his alma mater, Harvard University.
“Marc has made outstanding contributions throughout the firm and has mentored many colleagues who have developed into our important leaders,” Goldman CEO Lloyd Blankfein and President Gary Cohn said in an internal memo.
Spilker will become a senior director at Goldman, serving as an advisor to the firm. Senior directors are not employees of Goldman.