Eric Schwartz, co-head of Goldman Sachs investment management division and a member of the investment bank's management committee, is retiring this summer, according to an internal memorandum. His fellow co-head, Peter Kraus will continue as sole head of the unit. Mr Schwartz was co-head of Goldman’s equities division before assuming the asset-management post in 2003. According to the firm, the asset-management division last quarter "crossed the important thresholds of $1 trillion in assets under supervision and $750 billion of assets under management".