Goldman's Blankfein plans to step down by the end of the year
Mar 09 2018 by Johnny Bowman
The move comes days after chief economic advisor and former Goldman Sachs president Gary Cohn announced his resignation from the Trump administration.
Longtime Goldman Sachs chief executive Lloyd Blankfein is in talks to retire and has been contributing to the bank's choice of a successor, the Wall Street Journal reported Friday. The firm emerged from the crisis transformed, trying to focus less on risky trading and is now exploring new businesses like consumer loans.
Blankfein survived a run-in with cancer after being diagnosed with lymphoma in 2015.
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Gary Cohn, who previously was Goldman's chief operating officer, left past year to become chief economic adviser to President Trump.
More recently, Blankfein was villainized during the election when Trump's closing campaign ad portrayed the CEO as a globalist villain. However The Journalreports that Goldman is not looking beyond Schwartz or Solomon.
Goldman Sachs declined to comment. Cohn announced his resignation from the White House this week amid a clash over trade policy.
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. Bank of America, Citigroup, Morgan Stanley and Wells Fargo have all replaced their CEOs over the years.