Blankfein to retire
Lloyd Blankfein is preparing to exit the firm as soon as year end. Blackfein is 63 years old and has led Goldman Sachs for 12 years.
A WSJ report said Goldman Sachs is only looking at two co-presidents, Harvey Schwartz and David Solomon, to replace him, people familiar with the matter said.
From the WSJ:
"The departure would conclude a 36-year Goldman career for Mr. Blankfein, the son of a Brooklyn postal worker who rose to the pinnacle of Wall Street. In 1982, he quit his job as a tax lawyer and joined Goldman's commodities arm as a gold salesman. He rose through the ranks of the firm's trading business and was named CEO in 2006 when Hank Paulson became Treasury secretary."
Shares of Goldman doubled since he started in June 2006 but that lagged the broader market.
