From the Liveblog of
Monday, March 12, 2018
Front-runner emerges as next Goldman Sachs chief
Add ToI as a Preferred Source on GoogleNEW YORK — Goldman Sachs announces that co-president Harvey Schwartz will retire, leaving David Solomon the sole president and next in line to become the investment bank’s next chief executive.
“David Solomon will serve as sole President and Chief Operating Officer of the firm upon Harvey’s retirement,” Goldman Sachs says in a news release.
Schwartz, who previously served as chief financial officer and in other senior roles, will leave the company on April 20.
The announcement comes amid speculation over the future leadership of the storied investment bank following a Wall Street Journal report Friday that current chief executive Lloyd Blankfein could retire as soon as this year.
The Journal said Schwartz and Solomon, jointly appointed co-presidents in December 2016, were seen as the two candidates in line to replace Blankfein. The two men were promoted when former president Gary Cohn left Goldman for the White House.
— AFP
Goldman Sachs bombshell: Harvey Schwartz to leave in April; David Solomon in line to be next CEO when Blankfein retires. https://t.co/iXjxKTIueR$GS pic.twitter.com/rd0PZNqSg6
— Aaron Lucchetti (@AaronLucchetti) March 12, 2018
The Times of Israel Community.