Let friends in your social network know what you are reading about
Goldman Sachs names Solomon as new CEO with Blankfein’s retirement
Goldman Sachs has named chief operating officer David Solomon as its new CEO with the announced retirement of current chairman and CEO Lloyd Blankfein.
A link has been sent to your friend’s email address.
A link has been posted to your Facebook feed.
The Associated Press
Published 8:53 a.m. ET July 17, 2018 | Updated 9:02 a.m. ET July 17, 2018
NEW YORK — Lloyd Blankfein, Goldman Sachs’ chief executive officer and chairman, is announcing his retirement from the investment banking giant after 12 years at the helm.
Goldman said Tuesday that David Solomon, currently the bank’s president and chief operating officer, would be Blankfein’s successor. The announcement was expected, since Solomon had been moved into the second-in-command roles in recent months.
Blankfein ran Goldman through the financial crisis and Great Recession, presiding over a monumental shift in how investment banking works on Wall Street. While Blankfein navigated Goldman through the meltdown, competitors such as Lehman Brothers, Bear Stearns, and Merrill Lynch were bought or went bankrupt.
He will retire on Sept. 30.
Solomon is a long-time Goldman executive. He’s also known for being a DJ at parties as a hobby.