Former Federal Reserve Bank of Dallas Chief Rejoins Goldman Sachs

Former Federal Reserve Bank of Dallas president and CEO Rob Kaplan will rejoin The Goldman Sachs Group as vice chairman of Goldman Sachs and a member of the firm’s management committee.

Kaplan will be a member of the company’s executive office and will be based in Dallas.

In this role, Kaplan will engage clients around the world, working closely with teams across Global Banking & Markets and Asset & Wealth Management to offer strategic advice, Goldman Sachs said.

Kaplan will also draw on his experience in the public and private sectors to offer insights to clients and other stakeholders on the U.S. and global macroeconomic landscape.

By focusing on mentoring, leadership development, and the firm’s culture, he will work with Goldman Sachs employees across all levels and around the world to help develop and advance their careers, the company said.

“Rob brings a wealth of knowledge, deep relationships and significant global leadership expertise to his role as Vice Chairman,” David Solomon, chairman and CEO of Goldman Sachs, said in a statement. “During his many years at Goldman Sachs, he held a number of senior leadership positions, developing our leading businesses, building relationships with many of the firm’s most important clients, and investing in our distinctive culture of teamwork and excellence. I look forward to welcoming Rob back to Goldman Sachs.”

‘The relentless pursuit of excellence’

Kaplan said he’s glad to return to Goldman Sachs.

“I’m excited by the opportunity to once again take a key leadership role and contribute to the firm’s commitment to teamwork, leadership development, and the relentless pursuit of excellence in everything we do,” he said. “The people of Goldman Sachs have had an enormous impact on me as a professional and I look forward to working with the extraordinary array of talented people across the firm to serve our clients and help enhance and sustain the firm’s unique culture.”

Kaplan was the president of the Federal Reserve Bank of Dallas from 2015 to 2021. He took over the position from Richard W. Fisher and was succeeded by Meredith Black (Acting) upon his retirement.

Dallas is a key hub for Goldman Sachs

In Dec. 2022, Chairman and CEO Soloman said, “Dallas has become our second most significant hub.”

Goldman Sachs broke ground on its new 800,000-square-foot, $500 million Dallas campus in October 2023. The all-electric building, located in the city’s NorthEnd mixed-use development near Victory Park, is designed to house over 5,000 employees.

The company said the future campus represents a long-term investment in the city where it has deep roots, noting Goldman Sachs’ more than 50-year presence in Dallas.

Expertise in corporate, academic, federal, and philanthropic circles

Before taking up his post at the Federal Reserve, Kaplan was the Martin Marshall Professor of Management Practice and a Senior Associate Dean at Harvard Business School.

Prior to Harvard, Kaplan had a distinguished career at Goldman Sachs over the course of more than two decades. During that time, he had oversight responsibility for both the Investment Banking and Investment Management divisions, held firmwide responsibilities in the Executive Office, and served as a member of the Management Committee.

His previous roles at Goldman Sachs include serving as global co-head of the Investment Banking Division beginning in 1999, and global co-chief operating officer of the division in 1998 — the same year he joined the Management Committee.

Previously, he was head of the Corporate Finance Department, a role he assumed in 1994, and prior to that in 1990, Kaplan led the firm’s investment banking effort for the Asia Pacific region, based in Japan. He was appointed co-chairman of the Partnership Committee in 2002, and in 2004, he became chairman of the Pine Street leadership program.

Kaplan initially joined Goldman Sachs in 1983 and became a partner in 1990. He retired from the firm in 2006 to join Harvard, becoming a senior director at that time.

Kaplan also has been deeply involved in philanthropy, through his leadership roles such as those at Project A.L.S. and the Draper Richards Kaplan Foundation. He has also served on numerous advisory councils and boards. In Dallas, Kaplan is a member of the Advisory Council of the George W. Bush Institute and serves on the board of St. Mark’s School of Texas and the SMU Tate Lecture Series.