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Goldman Sachs CEO Blankfein to retire by year end - report

AP  |  New York 

has started plans to retire and could do so as soon as the end of this year, The Journal reported today.

Blankfein, 63, has run Goldman since 2006, and ran the firm through the housing market bubble and subsequent financial crisis.

The firm also became a target of intense populist anger during the Great Recession. The firm emerged from the crisis transformed, trying to focus less on risky trading and is now exploring new businesses like consumer loans.

The two people considered as candidates to replace are and David Solomon, who share the position as chief operating officer, said, citing undisclosed sources. Both Schwartz and Solomon have been considered successors to in the past in reports.

Discussions on whether Blankfein would step down heated up a few years ago when he was diagnosed with lymphoma. He successfully underwent and and has publicly said he considers himself cured.

Gary Cohn, who previously was Goldman's chief operating officer, left last year to become He was considered at the time as the most likely successor to Blankfein.

However reports that Goldman is not looking beyond Schwartz or Solomon.

Cohn resigned his position at the earlier this week and is not expected to return to Goldman.

Blankfein is one of only a couple big CEOs who ran their firms before the financial crisis and still are at the helms today. Bank of America, Citigroup, and have all replaced their CEOs over the years. All that remains is Jamie Dimon, of

Blankfein in his later years has become more outspoken about his views. He has been a of the administration on immigration and diversity issues and typically uses his own account to weigh in on public issues.

A Group Inc. declined to comment on the report.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 09 2018. 23:55 IST