Goldman Sachs CEO Blankfein to retire by year end

Jon Howard
March 10, 2018

Lloyd Blankfein is preparing to exit the firm as soon as year end.

Goldman declined to comment on the Journal report.

Goldman Sachs Chairman and CEO Lloyd Blankfein participates in a panel discussion on "Talent Attraction and Retention" during the White House Summit On Working Families at the Omni Shoreham hotel June 23, 2014 in Washington, DC. Visit for more information on this news.

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This should be "frictionless" and include access to free trade agreements already in place between third countries and the EU. European Council President, Donald Tusk , said the news should "come as no surprise" to the United Kingdom government.

For a replacement, the bank is reportedly considering Goldman's two co-presidents, Harvey Schwartz and David Solomon. He initially joined Goldman's commodities trading arm, and after 12 years, he was promoted to co-head of the currency and commodities division. He rose through the firm's trading business and took the top job in 2006, when Hank Paulson left to become Treasury secretary. In addition to Solomon and Schwartz, Mayo said in a Bloomberg Television interview he'd consider former Goldman president and Trump administration adviser Gary Cohn a candidate, as well as Blankfein, "because it's not certain he will be gone and we've had these reports in the past". Even though he supported Hillary Clinton during the 2016 election, Blankfein recently told CNN the economy is "higher" under Trump than if Clinton had won.

Discussions on whether Blankfein would step down heated up a few years ago when he was diagnosed with lymphoma. He declared himself cancer-free about a year later following chemotherapy treatments.

Over the past year, Goldman stock has lagged far behind rival Morgan Stanley as well as bigger banks, such as Citigroup and Bank of America.

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