Markowitz previously served as co-head of global litigation and regulatory proceedings at Goldman Sachs and was involved in handling Goldman Sachs' multi-billion dollar settlement related to the 1MDB corruption scandal in Malaysia. The appointment comes as U.S. federal authorities investigate how two insurance companies under Mark Walter's business empire—Delaware Life Insurance and its affiliate Clear Spring Life and Annuity—classified over $20 billion in loans provided to their companies. After receiving a grand jury subpoena and conducting an internal review, Delaware Life reclassified its related party investment ratio in its 2025 audited financial statements from an initial 3% to approximately 42%. TWG Global announced last week that it has agreed to exchange up to $6.5 billion in related party investments held by Delaware Life Insurance for an equal amount of unrelated assets.