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Blankfein Reportedly Will Leave Goldman Sachs by Year's End
[Photo: Lloyd Blankfein by Paul Elledge / Wikimedia.com]
Lloyd Blankfein, who has repeatedly indicated that he is in no hurry to leave Goldman Sachs, will step down as Chairman and CEO by the end of 2018 - according to a report in the WSJournal. Mr. Blankfein has served as CEO since 2006. He's 63 and was diagnosed with cancer (lymphoma) in 2015.
David Solomon and Harvey Schwartz, Goldman Sach's Co-Presidents, are currently the odds-on favorites to fill Blankfein's vacancy. [Financialish Note: Though it would seem unlikely that either would be assigned the dual titles of Chairman and CEO.] Both were named to their current position, as successors to Gary Cohn who left to become top economic adviser to Donald Trump.
- Solomon is a long-time investment banker and advisor to some of the firm's most important clients.
- Schwartz was the firm's CFO and once ran the firm's trading operations.
