Alfred Feld, who joined Goldman Sachs in 1933 and rose from office boy to private-wealth manager and became the firms longest-serving employee, has died. He was 98.
He died yesterday in Palm Beach, Florida, according to a memo distributed today by Chief Executive Officer Lloyd C. Blankfein and President Gary D. Cohn. No cause was given.
Felds time at Goldman Sachs was interrupted only by his service in the U.S. Army during World War II, Blankfein and Cohn wrote. He joined the firms first retail securities sales group in 1948 and worked at the company for more than half its history.
His reputation for sound and conservative client coverage was widely known, and he advised some of the firms most significant relationships, many of whom have transitioned through multiple generations, Blankfein and Cohn wrote. He was also an active and tireless mentor to our people, and we have been privileged to benefit from his wisdom, leadership and perspective over the last eight decades.
Feld this year celebrated his 80th anniversary with the bank, which had 200 employees and five partners when he joined. The firm became Goldman Sachs Group Inc. when it went public in 1999 and now has more than 32,000 employees.
He started as a messenger in mail operations, before being promoted within five days to office boy, according to Andrea Raphael, a spokeswoman for the New York-based bank. He later covered the railroad industry as a research analyst, before becoming a financial advisor, she said.
Feld was born on March 7, 1915, in Jersey City, N.J. He graduated from high school in 1931 and joined Goldman Sachs at age 18. While there, he went to school at night to earn his bachelors degree in accounting and an MBA from New York University, according to Raphael.
Feld is survived by his daughter Marjorie and son Arthur, according to the memo. His wife, Mildred Feld, died in 1983.