Ex-Goldman Sachs Fitzgerald may head Future Fund

ERIC JOHNSTON February 22, 2012

Goldman Sachs Australian and New Zealand chairman Stephen Fitzgerald has detailed plans to retire from the investment bank at the end of March.

The move comes amid ongoing speculation Mr Fitzgerald is set to be named the next chairman of Australia's $73 billion Future Fund, after current chair David Murray is scheduled to step down in April.

Mr Fitzgerald was appointed to the board of guardians of the Future Fund in April last year. At the time Mr Murray was given a 12-month extension to the role.

Formerly the co-chief executive officer of Goldman Sachs in Australia, Mr Fitzgerald became chairman and advisory director of the firm last July after Goldman Sachs acquired 55 per cent of the investment bank it didn't already own from the firm's local partners.

“After 20 years of distinguished service, Stephen Fitzgerald has decided to retire from the firm,” Goldman Sachs said in a memo sent to staff yesterday.

Mr Fitzgerald was unavailable last night.

ejohnston@theage.com.au