Ok, well that didn’t take long.
On Friday, the Wall Street Journal reported that Lloyd Blankfein is set to leave Goldman by the end of the year, setting the stage for either Schwartz or Solomon to take the reins.
It must have been one helluva weekend at 200 West, because this decision has already been made:
And look, this is a dope ass choice – and we mean “dope” in a good way.
Here’s the press release from Goldman:
NEW YORK, March 12, 2018 – The Goldman Sachs Group, Inc. (NYSE: GS) today announced that Harvey Schwartz, the firm’s President and Co-Chief Operating Officer, has decided to retire effective April 20, 2018. David Solomon will serve as sole President and Chief Operating Officer of the firm upon Harvey’s retirement.
“Over his 20-year career at Goldman Sachs, Harvey has held leadership roles across a broad range of the firm’s operations – from Securities and Investment Banking to the Executive Office, where he served as Chief Financial Officer; and most recently, as President and Co-Chief Operating Officer. Harvey’s work ethic, command of complexity, and client focus have defined his career at the firm,” said Lloyd C. Blankfein, Chairman and CEO of Goldman Sachs. “Harvey has been a mentor to many, and his influence has made an indelible impact on generations of professionals at Goldman Sachs. I want to thank Harvey for all he’s done for the firm.”
“I look forward to continuing to work closely with David in building our franchise around the world, serving our expanding client base and delivering strong returns for our shareholders,” said Blankfein.