Jon Winkelried

Last updated
Jon Winkelried
Bornc. 1959 (age 64–65)
Education University of Chicago (BA, MBA)
OccupationCEO of TPG
SpouseAbby Lipsey
Children3

Jon Winkelried (born c. 1959) is an American financial executive. He is currently the CEO of TPG. [1] Previously, he served as the co-president of Goldman Sachs from 2006 to February 2009. He is known for suddenly retiring at the peak of his career at age 49 from Goldman Sachs. [2]

Contents

Early life and education

Winkelried grew up in Millburn, New Jersey, the son of a Jewish father, Irwin, who managed local parking garages, and a mother who was a schoolteacher. [3] He attended the University of Chicago where he earned both an undergraduate degree and an MBA and played baseball. [3] While in school he joined Phi Gamma Delta with his good friend Byron Trott who was also on the baseball team. [4]

Career

Winkelried worked as an intern in the equities trading department at Goldman Sachs in the summer prior to graduating in 1982. He later accepted a permanent job at Goldman in the investment banking department in the Utilities Group. In 1984, he moved to the trading floor and soon was heading up the bond syndication business. In 1990, he became a partner. From there, he moved to London to turn around the European side of Goldman's fixed-income, currency, and commodities division (known as FICC). He was made co-head of FICC with Lloyd Blankfein. FICC was returned to solid profitability. [3]

In June 2006, Goldman's CEO Henry Paulson, Winkelried's mentor, accepted a position as the Secretary of the Treasury under President George W. Bush. Blankfein was appointed the new CEO and Winkelried was made co-chief operating officer and co-president with Gary Cohn. Their responsibilities were divided with Cohn running the trading and asset management side of the business (including FICC) and Winkelried responsible for investment and merchant banking. [3]

Eventually Cohn's business lines were outperforming his own and Winkelried, sensing that his position was tenuous (especially as Cohn was very close to Blankfein) decided that he would leave the firm. His last act would be to secure a $5B convertible preferred investment from Warren Buffett in Goldman during the financial crisis to secure the company's solvency. Blankfein was not happy with his decision to leave. [3]

Winkelried was named co-CEO of TPG in October 2015 and then named CEO of TPG in May 2021. [1] [5]

In 2023, Winkelried's total compensation from TPG was $198.7 million, up 487% from the previous year and representing a CEO-to-median worker pay ratio of 683-to-1 for the company, as well as making Winkelried the highest paid CEO in the US that year. [6]

Personal life

Winkelried has been married to Abby Lipsey, a preschool teacher, since 1986. They have three children: Matt, Jen, and J. [3]

Winkelried is the owner of two ranches in Meeker, Colorado: the Marvine and the Pot Hole. Winkelried is an expert "cutter," a sport in which horseback riders separate a calf from the herd (historically done for vaccination, castration, or sorting purposes). [3] He serves on the board of trust of Vanderbilt University [7] and the Board of Overseers of Memorial Sloan Kettering Cancer Center. [8]

Related Research Articles

<span class="mw-page-title-main">Goldman Sachs</span> American investment bank

The Goldman Sachs Group, Inc. is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many international financial centers. Goldman Sachs is the second largest investment bank in the world by revenue and is ranked 55th on the Fortune 500 list of the largest United States corporations by total revenue. In the Forbes Global 2000 of 2024, Goldman Sachs ranked 23rd. It is considered a systemically important financial institution by the Financial Stability Board.

<span class="mw-page-title-main">TPG Inc.</span> American investment company

TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American private equity firm based in Fort Worth, Texas. TPG manages investment funds in growth capital, venture capital, public equity, and debt investments. The firm invests in a range of industries including consumer/retail, media and telecommunications, industrials, technology, travel, leisure, and health care. TPG became a public company in January 2022, trading on the NASDAQ under the ticker symbol “TPG”.

<span class="mw-page-title-main">Jake Siewert</span> American political advisor

Richard L. "Jake" Siewert Jr. is an American political advisor serving as the head of corporate communications for investment bank Goldman Sachs. He served as the 22nd White House Press Secretary and the last of the Clinton administration and later in the Treasury department during the Obama Administration.

<span class="mw-page-title-main">Gary Cohn</span> American businessman & politician (born 1960)

Gary David Cohn is an American businessman and philanthropist who served as the 11th director of the National Economic Council and chief economic advisor to President Donald Trump from 2017 to 2018. He managed the administration's economic policy agenda. Before serving in the White House, Cohn was president and COO of Goldman Sachs, where he worked for more than 25 years. Cohn was appointed vice-chairman of IBM on January 5, 2021.

<span class="mw-page-title-main">Lloyd Blankfein</span> American investment banker (born 1954)

Lloyd Craig Blankfein is an American investment banker who has served as senior chairman of Goldman Sachs since 2019, and chairman and chief executive from 2006 until the end of 2018. Before leading Goldman Sachs, he was the company's president and chief operating officer (COO) from 2004 to 2006, serving under then-CEO Henry Paulson.

Alan David Schwartz is an American businessman and is the executive chairman of Guggenheim Partners, an investment banking firm based in Chicago and New York City. He was previously the last president and chief executive officer of Bear Stearns when the Federal Reserve Bank of New York forced its March 2008 acquisition by JPMorgan Chase & Co.

<span class="mw-page-title-main">Securities Industry and Financial Markets Association</span> United States industry trade group

The Securities Industry and Financial Markets Association (SIFMA) is a United States industry trade group representing securities firms, banks, and asset management companies. SIFMA was formed on November 1, 2006, from the merger of the Bond Market Association and the Securities Industry Association. It has offices in New York City and Washington, D.C.

Louis R. Chênevert is a Canadian businessman. He served as the Chairman and Chief Executive Officer of United Technologies Corporation and was also President of Pratt & Whitney.

<span class="mw-page-title-main">John F. W. Rogers</span> American businessman

John Francis William Rogers is an American businessman, serving as executive vice president, chief of staff, and secretary to the board of Goldman Sachs.

James Coulter is an American billionaire businessman. He is the co-founder of private equity firm TPG Inc., originally known as the Texas Pacific Group.

<span class="mw-page-title-main">China International Capital Corporation</span> Chinese company

China International Capital Corporation Limited is a Chinese partially state-owned multinational investment management and financial services company. Founded in China in 1995, CICC provides investment banking, securities and investment management services to corporations, institutions and individuals worldwide.

<span class="mw-page-title-main">Byron Trott</span> American merchant banker

Byron David Trott is the founder, chairman and co-CEO of BDT & MSD Partners, a merchant bank that provides advice and capital to family and founder-led companies. Formerly, Trott was vice chairman of Investment Banking at Goldman Sachs.

<span class="mw-page-title-main">Harvey Schwartz</span> American investment banker

Harvey M. Schwartz is an American businessman. He is CEO of The Carlyle Group, the world's fifth-largest private equity firm. He is also group chairperson and a non-executive director of The Bank of London, a clearing and transaction bank. He is on the board of SoFi, a San Francisco-based fintech company, and One Mind, a mental health and brain research nonprofit organization. He worked at Goldman Sachs from 1997 to 2018, with his last post there being president and co-chief operating officer.

Robert Steven Kaplan served as the president and CEO of the Federal Reserve Bank of Dallas from 2015 until 2021 and is a long-time Goldman Sachs executive, where he currently serves as vice chairman.

<span class="mw-page-title-main">David M. Solomon</span> American investment banker (born c. 1962)

David Michael Solomon, known as DJ D-Sol, is an American investment banker and DJ. He is the chief executive officer (CEO) of Goldman Sachs, a position he has held since October 2018. He has also been chairman of the bank since January 2019. Before assuming his role as CEO, Solomon was president and chief operating officer from January 2017 to September 2018, and was joint head of the investment banking division from July 2006 to December 2016. Solomon formally succeeded Lloyd Blankfein, the previous CEO, on October 1, 2018, and was named chairman after Blankfein's retirement.

Colin Coleman is a South African banker and public figure. He was previously the CEO of Goldman Sachs for Sub Saharan Africa. In January 2020, he left Goldman Sachs to become a senior fellow and lecturer at Yale University’s Jackson Institute for Global Affairs.

David Schwimmer is an American banker, and the chief executive (CEO) of the London Stock Exchange Group since April 2018, when he succeeded Xavier Rolet.

Stephen Scherr was the chief executive officer of Hertz and a member of its board of directors from February 2022 to March 2024.

References

  1. 1 2 "TPG says Jon Winkelried to be PE firm's sole CEO". Reuters. 2021-05-10.
  2. ↑ Craig, Susanne (18 February 2009). "Goldman Officer Quits; Got $67.5 Million in '07". The Wall Street Journal . Retrieved 19 February 2009.
  3. 1 2 3 4 5 6 7 Cohan, William D. (January 25, 2010). "The man who walked away from Goldman Sachs". CNN. Archived from the original on January 28, 2010.
  4. ↑ Marek, Lynne (December 18, 2010). "Byron's billionaires' club". Crain's Chicago Business.
  5. ↑ Moyer, Liz (28 October 2015). "Former Goldman Executive Winkelried to Join TPG". The New York Times .
  6. ↑ Paradis, Tim (2024-06-18). "Here are the highest-paid CEOs in the US , some of whom have 9-figure compensation packages". Business Insider . Archived from the original on 2024-08-28. Retrieved 2024-08-31.
  7. ↑ "Board of Trust: Members". Vanderbilt University. Retrieved August 15, 2016.
  8. ↑ "2018 Annual Report" (PDF). mskcc.org. Retrieved December 11, 2020.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.