One of Lloyd Blankfein's heir apparents just unexpectedly retired
Harvey Schwartz, co-president and co-chief operating officer of Goldman Sachs, is retiring next month, the bank announced Monday.
Schwartz and his co-COO David Solomon were viewed as the two potential heir apparents to CEO Lloyd Blankfein.
Here's Blankfein in the company statement:
"Over his 20-year career at Goldman Sachs, Harvey has held leadership roles across a broad range of the firm's operations - from Securities and Investment Banking to the Executive Office, where he served as Chief Financial Officer; and most recently, as President and Co-Chief Operating Officer. Harvey's work ethic, command of complexity, and client focus have defined his career at the firm."
"Harvey has been a mentor to many, and his influence has made an indelible impact on generations of professionals at Goldman Sachs. I want to thank Harvey for all he's done for the firm."
Just last week, The Wall Street Journal reported that Blankfein was planning to step down as early as the end of this year.
This story is developing.