Bloomberg News reports that the investment bank plans early this week to name company President David Solomon - whom Blankfein has publicly referred to as his successor - as its next CEO, the New York Times reported Sunday, citing people briefed on the plan.
Blankfein will stay on at the bank for an interim period, but the plan to elevate Solomon could be announced as early as Monday, the newspaper said. Goldman Sachs spokesman Edward Naylor declined to comment.
It’s a momentous moment for the bank and its industry. Under Blankfein, Goldman Sachs became the most profitable company in Wall Street history, but the former commodities salesman also had to navigate the worst financial crisis in 80 years.
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