(Reuters) -Wall Street heavyweight Goldman Sachs has appointed veteran Michael Thompson as the global head of the office of government and regulatory affairs, according to an internal memo seen by Reuters.

Thompson will succeed Michael Paese, who will retire from the partnership at the end of 2025 and become a senior advisor to Goldman.

"He's (Paese) a brilliant strategic mind, always focused on the bigger picture. His contributions not only advanced our organization's interests but inspired all of us to aim higher," Goldman executive vice president John Rogers said.

In his new role, Thompson will lead Goldman's efforts on key public policy and regulatory issues domestically and internationally.

Goldman's office of government and regulatory affairs works to advance the bank's interests with governments and regulators around the world.

Thompson joined Goldman in 2010 as a vice president and became managing director in 2011. He currently serves as the head of the office of government and regulatory affairs in the U.S.

Before Goldman, Thompson had worked for mortgage giant Fannie Mae for four years. He also worked for a Republican congressman and two senators, according to his LinkedIn profile.

Goldman is also promoting Kyle Russ as the global head of prudential policy and strategy as well as Ryan Jachym to run markets policy, the memo showed.

Bloomberg News had earlier reported Paese and Thompson's moves.