Pimco said to have considered Goldman president for executive position

Gary Cohn interview pic

Pacific Investment Management Co. considered recruiting Gary Cohn, president of Goldman Sachs, as a top executive in 2013, people with knowledge of the matter said.

Bloomberg News reports that Cohn was on a short list of potential candidates to succeed Mohamed El-Erian as chief executive officer, according to the people, who asked not to be identified because the talks were private.

At the time, Pimco and Bill Gross were working on a succession plan that included a smaller role for Gross, who co-founded the firm in 1971, the people said.

A move by Cohn would have deprived Lloyd Blankfein of his top deputy and one of his most likely successors. Cohn, 54, the only bank employee other than Blankfein on the board of directors, is considered among a group of executives who could replace the 60-year-old CEO when he retires. In an October 2013 Bloomberg Television interview, Cohn said he was happy in his current job and wanted to remain in it.

While Pimco’s idea of hiring Cohn never progressed beyond informal conversations, he stood to increase his compensation substantially.

To access the complete Bloomberg News article hit the link below:

Pimco Said to Have Considered Goldman’s Cohn for Top Job

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