Blankfein Prepares to Exit Goldman, WSJ Reports

Oaktree Capital’s Howard Marks says Goldman Sachs

Oaktree Capital’s Howard Marks says Goldman Sachs"will go on should Chairman & CEO Lloyd Blankfein step down

Lloyd Blankfein, the CEO of Goldman Sachs, one of Wall Street's most powerful banks, could step down from his post as soon as year-end, according to a published report.

According to a report in The Wall Street Journal, Mr Blankfein, who is 63, is likely to be replaced by one of Goldman's two co-presidents, David Solomon and Harvey Schwartz.

Goldman declined to comment on the Journal report.

Blankfein has worked for Goldman Sachs since 1982, after spending four years in law practice. Blankfein will probably retire ahead of the bank's 150th anniversary in 2019, or early that year, the paper reported. Visit for more information on this news. He initially joined Goldman's commodities trading arm, and after 12 years, he was promoted to co-head of the currency and commodities division.

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He was named CEO in 2006 after President George W. Bush nominated the former chief executive Hank Paulson as Treasury Secretary.

At other times, Blankfein has been critical of Trump. He declared himself cancer-free about a year later following chemotherapy treatments.

In his most recent public speech at a Credit Suisse forum on February 13, Blankfein reaffirmed his commitment to FICC: "Today, the trajectory of the global economy is on much firmer footing.I don't think it would be a good strategic move to forego the upside in the business from here". Bank of America, Citigroup, Morgan Stanley and Wells Fargo have all replaced their CEOs over the years.

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