When Goldman Sachs CEO Lloyd Blankfein hands off to heir apparent David Solomon in the coming months, it will be the investment bank's first change in leadership since 2006. During the intervening years, Blankfein led the firm through the financial crisis and the subsequent fallout surrounded by a coterie of loyalists, some of whom worked shoulder-to-shoulder with the CEO at commodities trader J. Aron & Co. Solomon's management team will differ from his predecessor's. An investment banker who climbed the rough-and-tumble ranks at Bear Stearns before jumping to Goldman Sachs before it sold shares to the public in 1999, Solomon runs with a different crowd. Many of them worked for the Goldman president during the decade he ran the investment-banking division.
Solomon may be formally announced as Blankfein's successor as early as this week, the New York Times reported yesterday. To understand who's in, who's out, and who is line for promotions, Business Insider spoke to more than a dozen Goldman Sachs insiders. Solomon declined to comment through a spokesman. Subscribe here to read our story. |
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