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Utopia Talk / Politics / God's work is done...
| Fri Mar 09 10:54:27|
Goldman CEO Blankfein Set To Leave, WSJ Reports
by Tyler Durden
Fri, 03/09/2018 - 11:46
The Wall Street Journal reports that Lloyd Blankfein is preparing to step down as Goldman Sachs chief executive as soon as the end of the year, capping a more than 12-year run that would make him one of the longest-serving bosses on Wall Street.
The timing of any moves could still change, and the 63-year-old Mr. Blankfein is firmly in control of his exit, the people said.
The current thinking, though, is that he will retire ahead of or early in Goldman’s 150th anniversary year in 2019, a fitting send-off for the history buff.
Mr. Blankfein has often joked he will die at his desk, and his enthusiasm for the job has led many within the firm to believe he might outlast another set of would-be successors.
While the firm's co-presidents, Harvey Schwartz and David Solomon, are leading candidates to replace the 63-year-old CEO, one can't help but wonder about the timeliness of Gary Cohn's White House exit.
The departure would conclude a 36-year Goldman career for Mr. Blankfein, the son of a Brooklyn postal worker who rose to the pinnacle of Wall Street. In 1982, he quit his job as a tax lawyer and joined Goldman’s commodities arm as a gold salesman. He rose through the ranks of the firm’s trading business and was named CEO in 2006 when Hank Paulson became Treasury secretary.
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