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Goldman Sachs International Chairman Peter Sutherland to retire

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Goldman Sachs Group Inc. headquarters in New York pictured. Peter Sutherland, chairman of Goldman Sachs Group Inc.'s European business, will retire from that role after 20 years.

[NEW YORK] Peter Sutherland, chairman of Goldman Sachs Group Inc.'s European business, will retire from that role after 20 years.

Mr Sutherland, 69, will leave at the end of June to spend more time in his position with the United Nations, Chief Executive Officer Lloyd C. Blankfein and President Gary Cohn wrote in an internal memo. He'll continue to advise the New York-based bank on business development, according to the memo.

Mr Sutherland joined Goldman Sachs as an international adviser in 1990 and has also served as chairman of BP Plc and the London School of Economics, as well as director general of the World Trade Organization. He serves as special representative of the secretary general of the UN for migration and development.

Goldman Sachs International had US$5.9 billion in revenue last year and an average staff of 5,582 employees. The Irish Times reported Mr Sutherland's retirement earlier Wednesday.

BLOOMBERG