FT - Blankfein hints about Goldman's next leadership succession plan

Attention all Goldman watchers.

Lloyd Blankfein has held out the prospect of being replaced by co-chief executives at Goldman Sachs, suggesting that the Wall Street bank is contemplating a break from the structure in place for the past 18 years.

The Financial Times reports that the contest to succeed Blankfein, who has held the top spot at Goldman for more than a decade, is one of the most keenly watched in finance.

Last December the bank made clear its favoured candidates, appointing two senior executives from the banking and trading businesses to replace Washington-bound Gary Cohn, who had been seen as Blankfein’s heir apparent. During an interview with Bloomberg TV on Thursday, Mr Blankfein said the bank would not necessarily name only one person to succeed him when he steps down.

That could open the door to a double act of Harvey Schwartz and David Solomon, the co-presidents and co-chief operating officers, in a return to the structure Goldman had before it went public in 1999.

Hit the link below to access the complete Financial Times article:

Goldman’s Blankfein voices prospect of being replaced by co-chiefs

Goldman Sachs: two’s company

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