Goldman to name David Solomon as CEO early this week

17 Juillet, 2018, 15:51 | Auteur: Auguste Feret

Goldman Sachs Group Inc. said veteran investment banker David Solomon would succeed Lloyd Blankfein as chief executive, setting up a high-profile transition for a firm that is expanding well beyond its Wall Street roots.

Mr. Blankfein will remain chairman of the board until the end of the year, when Mr. Solomon will take the title. To understand who's in, who's out, and who is line for promotions, Business Insider spoke to more than a dozen Goldman Sachs insiders. Schwartz was viewed as Solomon's main rival for the top job.

Solomon, who joined the investment bank as a partner in 1999, is now president and chief operating officer of the bank.

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Solomon was named president in March.

With Blankfein in charge, Goldman became a profit powerhouse, with the onetime commodities salesman steering the company through the worst financial crisis in 80 years.

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