The head of Goldman Sachs Group Inc.'s mortgage department, Dan Sparks, unexpectedly quit the firm on Friday, according to media reports.
Sparks, who headed the mortgage department for only a year and a half, said he was leaving Goldman for personal reasons, the Wall Street Journal reported, citing a source familiar with the matter
Sparks served as the head of the department for the past year-and-a-half.
He will be replaced by two current members of the department, Justin Gmelich and Thomas Cornacchia. Gmelich is head of U.S. credit trading. Cornacchia is head of credit sales.
Shares of Goldman Sachs closed up $3.56 to $192.00 on Friday.