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Goldman Sachs' Schwartz retires, paves way for Solomon as next CEO


By Catherine Ngai(Reuters) - Goldman Sachs Group Inc unexpectedly announced on Monday that Harvey Schwartz will retire from the bank, leaving David Solomon as sole president and chief operating officer and the most obvious successor to Chief Executive Lloyd Blankfein.Schwartz and Solomon were named co-COO in December 2016 in a setup that appeared to pit the two against each other to eventually lead what is viewed as the most powerful U.S. investment bank.The Wall Street bank's board had discussed choosing a single COO at a meeting in February as part of ongoing succession planning and decided ...

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First Published: Mon, March 12 2018. 22:38 IST