In the exchange approximation, an exact solution is obtained for the sublattice magnetizations evolution in a two-sublattice ferrimagnet. Nonlinear regimes of spin dynamics are found that include both the longitudinal and precessional evolution of th
e sublattice magnetizations, with the account taken of the exchange relaxation. In particular, those regimes describe the spin switching observed in the GdFeCo alloy under the influence of a femtosecond laser pulse.
