Published: Sat, March 10, 2018
Markets | By Noel Gibbs

Goldman Sachs chief Blankfein to retire as soon as end of year

Goldman Sachs chief Blankfein to retire as soon as end of year

Either way, the bank appears to be laying the groundwork for succession after Blankfein helped guide the bank out of the 2007-'08 financial crisis.

"It's the @WSJ's announcement.not mine".

Leslie Shribman, Goldman's vice president of media relations, declined to comment on the matter. Goldman then named Harvey Schwartz and David Solomon as co-presidents and co-chief operating officers in December 2016, increasing speculation that Blankfein could be stepping down.

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Shares of Goldman Sachs were up 1.4 percent at $269.95 in afternoon trading.

Blankfein joined Goldman Sachs in 1982 as a gold salesman, and co-managed the firm's currency and commodities division from 1994 through 1997.

The time has finally come. Bank of America, Citigroup, Morgan Stanley and Wells Fargo have all replaced their CEOs over the years.

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Blankfein has worked for Goldman Sachs since 1982, after spending four years in law practice.

What if Goldman Sachs were run by an global DJ? "I have enormous confidence in our ability to deliver superior returns to the shareholders over the cycle, as I believe we have".

Goldman Sachs CEO Lloyd Blankfein threw cold water on a report that he's preparing to step down as head of the investment bank as early as this year. He rose through the firm's trading business and took the top job in 2006, when Hank Paulson left to become Treasury secretary.

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News of Blankfein's impending departure has stoked speculation he could be succeeded by former Goldman president Gary Cohn, who stepped down this week from the Trump administration amid a dispute over trade policy. He said on Tuesday he is resigning, without saying what he would do next.

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