Goldman Sachs Hires Steven Kerr as Chief Learning Officer

NEW YORK – The Goldman Sachs Group, Inc. (NYSE:GS) today announced that Steven Kerr has joined the firm as Chief Learning Officer and a managing director. Dr. Kerr will be responsible for the learning structure across all divisions and will direct the Pine Street Leadership Project, the firm's training and development initiative for its business leaders.

"Steve is a recognized pioneer in leadership development who brings a depth of experience and knowledge to Goldman Sachs," said Henry M. Paulson, Jr., Chairman and Chief Executive Officer of Goldman Sachs. "Development of our next generation of leaders is the keystone of our business and we welcome Steve to this important role."

Dr. Kerr joins from the General Electric Company where he was Chief Learning Officer and Vice President of Leadership Development. In addition, he was responsible for GE's renowned leadership education center at Crotonville. He was previously on the faculties of Ohio State University, the University of Southern California, and the University of Michigan, and was Dean of the faculty of the USC business school from 1985 to 1989.

Dr. Kerr is a past-president of the Academy of Management, the world's largest association of academicians in management. He is an acknowledged author, editor and commentator, and has contributed to many academic and popular publications on management and organizational behavior. Among his publications are The Boundaryless Organization (Jossey-Bass, 1995; co-author); Ultimate Rewards (Harvard Business School Press, 1997; editor); and "Risky Business: The New Pay Game" ( Fortune, July 22, 1996). He has a Ph.D. in management and organizational psychology from the City University of New York.

The Goldman Sachs Group, Inc. is a leading global investment bank and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.