Goldman Sachs boss Lloyd Blankfein on track to leave bank by year-end – reports
The 63-year-old is already one of the longest serving Wall Street banking chiefs.
Goldman Sachs chief Lloyd Blankfein is reportedly getting ready to leave his post a soon as year-end in a move that would end a 12-year stint at the helm of the Wall Street giant.
The American bank is said to be eyeing one of its two presidents to succeed Mr Blankfein meaning either Harvey Schwartz and David Solomon could be Goldman’s next chief executive, according to a report by the Wall Street Journal.
The 63-year-old is already one of the longest serving Wall Street banking chiefs, having taken his post in 2006, and is expected to step down from his role around the lender’s 150th anniversary in 2019.
Goldman Sachs declined to comment.
Prior to his stint as chief executive, he served as president and chief operating officer, and earlier worked as a vice chairman from 2002 to 2004.
He also co-headed the currency and commodities division between 1994 to 1997, but originally joined Goldman Sachs in 1982 as a gold salesman.
Mr Blankfein reportedly discussed the strengths and weaknesses of the two candidates with fellow bank directors at a board meeting in February, but has not said whether he prefers Mr Schwartz or Mr Solomon to take his place, according to the Wall Street Journal citing sources.
The banking boss has been a vocal figure on Brexit and has not shied away from bemoaning the uncertainty that has since hit the UK’s financial sector.
He took to Twitter last autumn to express worries over a lack of clarity over future relations with the EU.
In October, the banking boss tweeted: “In London. GS still investing in our big new Euro headquarters here. Expecting/hoping to fill it up, but so much outside our control. #Brexit”
It followed an earlier tweet where he detailed a recent trip to Frankfurt, saying he would be “spending a lot more time there”.
Goldman Sachs – which employs 6,500 UK staff – is set to at least double its Frankfurt office to 400 staff through a mix of relocations and local hires and has also signed a lease on a yet-to-be built skyscraper that can house up to 800 employees with options to take up additional space.
Paris – where Goldman currently employs around 150 staff – will serve as a dual hub alongside Frankfurt, with additional moves made to offices including Milan, Madrid, Stockholm and Dublin.