TWG Global Names Former Goldman Sachs Veteran David Markowitz as Chief Legal Officer

TWG Global, a holding company with investments spanning artificial intelligence, technology, financial services, insurance, and media, has appointed former Goldman Sachs legal executive David Markowitz as its chief legal officer. The executive addition comes as federal regulators inspect loan disclosures from insurance entities connected to TWG Chief Executive Mark Walter.

Markowitz spent over a decade at Goldman Sachs after joining the firm in 2011, serving most recently as global co-head of litigation and regulatory proceedings. During his time at the investment bank, he helped negotiate legal settlements related to the 1MDB Malaysian sovereign wealth fund corruption case. Prior to his tenure at Goldman Sachs, Markowitz worked for eight years in the enforcement division of the Securities and Exchange Commission and held senior roles within the New York Attorney General's Office.

"We are pleased to welcome David to TWG Global," Walter said in a statement regarding the hiring, adding that Markowitz's legal background will help fortify the firm's legal framework and long-term strategic priorities. Markowitz expressed enthusiasm for joining corporate leadership, stating he has "long admired TWG Global's unique position across some of the world's most cutting-edge industries and its ambitious vision for transforming category-defining businesses and building enduring value."

The legal appointment, which was first reported by Bloomberg and detailed by CNBC Business, arrives alongside federal scrutiny into Walter's business operations. Inquiries by the U.S. Attorney's Office for the Southern District of New York and the Securities and Exchange Commission are evaluating how two insurers overseen by Walter—Delaware Life Insurance and Clear Spring Life and Annuity—classified roughly $20 billion in loans provided to entities within his corporate network.

Following grand jury subpoenas and internal reviews, the two insurers under the Group 1001 umbrella reclassified billions of dollars in capital allocation as related-party or affiliated transactions. In restated 2025 financial disclosures, Delaware Life reported that affiliated holdings comprised approximately 42 percent of its invested assets, compared to the 3 percent originally reported. Federal authorities have not charged Walter with any wrongdoing, and loaning capital to affiliated entities is legal.

To rebalance its insurance balance sheets, TWG Global stated last week that it had reached an agreement to exchange up to $6.5 billion in Delaware Life's affiliated holdings for an equal sum of non-affiliated assets. Under the terms of the arrangement, TWG Global assumes responsibility for entities tied to internal performance, providing the insurer with independent assets.

The regulatory probes have drawn renewed focus in the wake of high-profile asset transactions across Walter's portfolio, including an agreement to sell his controlling interest in the Los Angeles Lakers to Joshua Kushner and Bob Iger at a valuation of $12.5 billion. Walter, who also owns the Los Angeles Dodgers, had acquired his stake in the basketball team last September.