Goldman CEO Blankfein to depart from bank in December, says NYTimes

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Goldman CEO Lloyd Blankfein

• Goldman Sachs CEO Lloyd Blankfein is expected to step down from the bank in December, according to a report from the New York Times.
• The announcement of Blankfein's retirement could come at the firm's annual dinner for retired partners. President David Solomon is expected to replace Blankfein.
• Possible replacements for Solomon include investment banking co-head John Waldron, investment management co-head Eric Lane and head of the consumer bank Stephen Scherr.

Goldman Sachs CEO Lloyd Blankfein is expected to step down from the bank in December, according to a report from the New York Times. Blankfein, who is likely to be replaced by president David Solomon, may make his exit announcement at the firm's annual dinner for retired partners.

Investment banking cohead John Waldron, investment management cohead Eric Lane and head of the consumer bank Stephen Scherr could get bigger jobs in Solomon's management team, the New York Times said, citing anonymous sources.

A representative for Goldman declined to comment.

As Business Insider reported today, the era of Solomon has already begun. Blankfein is consulting Solomon more frequently on strategy and management decisions, and the presumptive CEO is making his voice heard.

Solomon has already put his mark on the investment-banking division, and many expect him to turn his attention to other divisions, as well as critical roles like president, or even finance chief.

Two executives close to Blankfein, securities coheads Pablo Salame and Isabelle Ealet, departed Goldman this past week, with more big changes at the bank expected.

Read more about the saga here.

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