Goldman Sachs CEO Lloyd Blankfein to Retire by 2019

Share

The race to succeed Lloyd Blankfein as chief executive of Goldman Sachs will determine the future strategy of the United States banking giant and renew an age-old battle between traders and investment bankers.

Solomon is an investment banker and advisor with an impressive track record who's worked directly with some of Goldman Sachs' most important clients. Solomon and Schwartz are reportedly the top candidates for Blankfein's position.

A Goldman Sachs Group Inc. spokesman declined to comment on the report.

Shares in the bank initially fell slightly on the news, first reported by The Wall Street Journal, on Friday but quickly rebounded to be in line with the rest of the market.

Gary Cohn, who previously was Goldman's chief operating officer, left a year ago to become chief economic adviser to President Trump.

More news: Adviser to United Arab Emirates cooperating with Mueller

Blankfein's exit would cap a successful career on Wall Street that began when he joined Goldman's commodities trading division in 1982. The food has about a 25-year shelf life. the most expensive package includes 600 cans of food with a per-person diet of 2,000 calories a day. the packaging weighs in at about eighteen hundred pounds and is shipped discretely without labels, so you'll be able to stock up secretly.

More recently, Blankfein was villainized during the election when Trump's closing campaign ad portrayed the CEO as a globalist villain.

At other times, Blankfein has been critical of Trump.

Blankfein, 63, one of the most prominent figures on Wall Street, could leave ahead of, or early in 2019 - Goldman's 150th anniversary - the newspaper said. He underwent chemotherapy for a curable form of blood cancer in 2015.

Although Blankfein is credited with getting Goldman Sachs back on its feet after the crisis, its trading division has struggled in recent years, and some analysts have faulted Blankfein's leadership. Bank of America, Citigroup, Morgan Stanley and Wells Fargo have all replaced their CEOs over the years.

Share