Goldman Sachs Names Solomon As Next In Line To Replace Blankfein

Goldman exec eyed as possible CEO is leaving

Harvey Schwartz quits Goldman Sachs

Harvey Schwartz, Goldman Sachs' president and co-chief operating officer, will retire next month after more than 20 years at the high-powered investment bank, the company announced on Monday - just days after Wall Street was roiled by reports that his boss was set to retire.

The Journal reported Friday that Blankfein is approaching the end of a 12-year run at the helm of Goldman, which is one of the world's most profitable investment banks, though Blankfein said in a tweet that it's "the @WSJ's announcement. not mine.

Schwartz and Solomon were not quoted in the announcement.

Blankfein, 63, one of the longest-serving CEOs on Wall Street, has led what is viewed as the most powerful US investment bank for almost 12 years. A spokesman for Goldman Sachs didn't immediately return a call for comment.

Harvey Schwartz's resignation comes after 20 years with Goldman Sachs.

Goldman Sachs CEO Lloyd Blankfein grew up in public housing in the East New York section of Brooklyn.

Mayo continues to recommend investors buy Goldman stock, as this management transition is likely "cleaner" than having a co-CEO, an outsider, or a delayed decision that would trigger uncertainty inside the firm. "The need for investment banking and lending from large financial institutions will grow", Bove said.

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However, the left-back missed the midweek game with a slight muscle injury and could be given extra time to recover. The history of both teams is incredible , in the '80s, '90s. "We have training sessions to decide before the game".

Solomon has several pursuits outside of the Wall Street bank.

Mr Schwartz served five years as global co-head of the securities division, before being named CFO in 2013. Solomon moonlights as an electronic music disc jockey, which he puts in terms of giving an example to younger bankers.

He likes to DJ under the name "DJ D-Sol" in his spare time, spinning electronic dance music at clubs in New York, Miami, and the Bahamas.

Prior to Goldman, Solomon spent almost nine years at Bear Stearns.

"This is a Goldman Sachs conference, sorry", Branson quipped after drifting into a tangent about his ineptitude at rolling joints despite learning from the Rolling Stones' Keith Richards, sending Solomon and the lively audience into stitches.

If Solomon does inherit the CEO job from Blankfein, he may have his work cut out for him.

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