Washington -- Deputy Secretary of State Robert Zoellick will be leaving his position at the State Department for a position at Goldman Sachs, an investment banking, securities and investment management firm with a worldwide presence.

During an early morning announcement June 19 at the State Department, Secretary of State Condoleezza Rice said it was "with considerable sadness" that she says farewell to her "alter ego" of one and one-half years.

The two met in 1989 and have worked together under various administrations.  Rice said they have discussed business during regular lunch appointments for more than a decade.

Zoellick, in his remarks, said he has accomplished all he set out to do in his six years with the Bush administration and that it "is time to go."  Zoellick worked for Goldman Sachs before, as a senior international advisor in 1993.

Before joining the State Department, Zoellick served as the 13th U.S. Trade Representative, completing negotiations to bring China and Taiwan into the World Trade Organization.

During President George H.W. Bush's administration, Zoellick served with Secretary of State James A. Baker as under secretary of state for economic and agricultural affairs and as counselor to the department.  He received the Distinguished Service Award, the Department of State's highest honor.

A transcript of Secretary Rice’s remarks with Zoellick is available on the State Department Web site.