Proactive Investors - Run By Investors For Investors

Goldman Sachs officially kicks off new era with appointment of David Solomon as its next CEO and chairman

Goldman’s president and co-chief operating officer replaces retiring CEO Lloyd Blankfein in early October
Goldman Sachs logo
Blankfein will be granted the title of senior chairman upon his retirement

Goldman Sachs Inc (NYSE:GS) today officially appointed its next CEO and chairman, with the announcement that David Solomon will replace Lloyd Blankfein at the investment bank’s helm.

Solomon, 56, has been Goldman’s president and co-chief operating officer since 2016. Before that, he served as the global co-head of the investment banking division. He will officially assume the new title from Blankfein in early October.

In a statement, Solomon said he is “honored” and “humbled” to lead Goldman Sachs. "I appreciate the confidence Lloyd and the board of directors have placed in me,” he said.

Blankfein will retire from Goldman and as its board’s chairman at the end of the year, at which time he will be granted the title of senior chairman.

“David is the right person to lead Goldman Sachs," said Blankfein in a statement. "He has demonstrated a proven ability to build and grow businesses, identified creative ways to enhance our culture and has put clients at the center of our strategy."

The official dispatch on Solomon’s promotion came as the Wall Street bank exceeded analysts’ expectations by posting earnings of US$5.98 per share on revenue of US$9.4bn in the second quarter.

Despite the impressive quarterly performance, Goldman shares fell in line with the broader market, shedding 1.4% in late morning trade to US$227.95.

View full GS profile View Profile

Goldman Sachs Timeline

Related Articles

cryptocurrency tokens
October 02 2018
Since launching its advisory service arm last year, the company has already helped raise over US$500mln in token sales
APQ
November 20 2018
The dividend remains well covered by economic income in the portfolio.
Care worker
August 10 2018
The stock consistently trades above its net asset value per share, which could have something to do with the dividend yield of more than 6%
Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use