A new era at Goldman Sachs is taking shape.
The New York Times reports that the Wall Street giant’s president, David M. Solomon, is likely to be named chief executive officer by the end of this year, and he is already structuring his senior management team, according to people familiar with the firm’s plans.
The time frame for Mr. Solomon’s ascension has evolved since he was named sole president of the firm in March, establishing him as the heir apparent to longtime Chief Executive Lloyd C. Blankfein, who is 63. But exactly when Mr. Solomon would take over from Mr. Blankfein, who colleagues say remains as engaged as ever in running Goldman, was not then clear. Mr. Blankfein said in an April television interview that his successor needed time to get better acquainted with parts of the company where he had never worked.
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