The Goldman Sachs Group, Inc. has announced on 17th July retirement of Lloyd C. Blankfein as Chairman and Chief Executive Officer and the Board of Directors has appointed David M. Solomon to succeed him in both roles.
According to press release Mr. Blankfein who has been Chairman and Chief Executive Officer since 2006, now will step down as Chief Executive Officer on September 30, 2018, and will retire from the firm and as Chairman of the Board at the end of the year. Mr. Blankfein will accept the title of Senior Chairman after his retirement.
“I want to express my deep appreciation for the opportunity to work with and benefit from so many talented and dedicated colleagues,” said Mr. Blankfein. “My job has also allowed me to engage with many of the most impressive business leaders around the world and I thank them for allowing me to help support their goals and priorities.”
Mr. David M. Solomon will join the firm’s Board on October 1, 2018. He was appointed President and Co-Chief Operating Officer in 2016. Prior to that, he was Global Co-Head of the Investment Banking Division from 2006.
“I am honored and humbled to have the opportunity to lead Goldman Sachs and I appreciate the confidence Lloyd and the Board of Directors have placed in me,” said Mr. Solomon. “I am excited about the opportunities for growth and know how vital our culture of client service and teamwork is to our success.”
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.