Published: Sat, March 10, 2018
Markets | By Erika Turner

Goldman CEO Blankfein to step down as soon as year-end

Goldman CEO Blankfein to step down as soon as year-end

What if Goldman Sachs were run by an global DJ?

Lloyd Blankfein said a report of his exit may be premature.

Goldman Sachs Chief Executive Officer Lloyd Blankfein has started plans to retire and could do so as soon as the end of this year, The Wall Street Journal reported Friday.

"I feel like Huck Finn listening to his own eulogy", Blankfein said in a post on Twitter. Goldman then named Harvey Schwartz and David Solomon as co-presidents and co-chief operating officers in December 2016, increasing speculation that Blankfein could be stepping down.

Goldman Sachs declined to comment. Members of the management committee were stunned, according to people familiar with the matter.

His rise coincided with the go-go days of Wall Street before the financial crisis - which would end up haunting Blankfein and the bank through the present day.

Neo-Nazis Clash With Protesters At Richard Spencer MSU Appearance
But protesters, including those who demonstrated peacefully, said it was their duty to stand up to Spencer and his beliefs. Pillai said he was with a small group of friends, all of whom shared the same sentiment toward Spencer's ideologies.

It's hardly a secret that Blankfein might move on in the near future.

Blankfein spent 36 years at Goldman Sachs, a son of a Brooklyn postal worker who rose to lead one of the top firms on Wall Street.

The firm's financials could also play a role in Blankfein's retirement planning.

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.

Goldman Sachs has been grooming Schwartz and Solomon for the top job ever since former president Gary Cohn left the bank past year to become President Trump's top economic adviser.

Like this: