When Goldman Sachs President Gary Cohn recently addressed first-year analysts while his boss, CEO Lloyd Blankfein, got stuck talking to the firm’s lowly interns, the rumor mill inside the big Wall Street firm began to churn over whether this was a sign that Cohn was about to get the job he has longed coveted and run the famed investment bank.
Fox Business Network reports that Blankfein scored major public relations points by doing something that seemed unusual for a Wall Street executive, publicly supporting gay rights, including same sex marriage. He did so while doing some national television, and sporting a beard.
While people inside Goldman say it is unlikely that Cohn will get the top job imminently, they also say Cohn has been bristling over a firm strategy to heighten Blankfein’s profile in recent months, and is demanding some PR face-time of his own.
Succession, of course, is always a hot topic at Goldman. While Cohn is considered Blankfein’s replacement if he were to leave immediately, several executives from the investment banking department are vying for the top spot as well. Both Blankfein and Cohn came from the trading side.
Blankfein has been the CEO since June of 2006, and with his relatively young age of 58, it’s unlikely that he will want to step aside any time soon, especially after navigating the firm through the financial crisis.
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