Lloyd Blankfein retires as CEO Goldman Sachs. Lloyd Blankfein has announced his departure as CEO of the US investment bank Goldman Sachs, succeeded by the current director and Chief Operating Officer (COO), David Solomon.
Blankfein op will resign on 30 September. For some time, Solomon had been the successor of Blankfein’s successor.
“When I was asked in the past about my succession, I always found it hard to imagine a room,” Lloyd Blankfein writes in a memo. “When times get heavier, you can not leave, but when things are going well, you do not want to leave.”
The 63-year-old Blankfein has been at the head of Goldman Sachs since 2006, one of the largest banks in the United States, and Blankfein is one of the longest-serving executives in the American business world.
Blankfein received the constant criticism in recent years. For example, the bank’s role in the emergence of the credit crisis was not undisputed. Also, his 2009 statement that banks would do the “work of God” caused a lot of fuss in the financial world. Blankfein later offered his apologies for that statement.
The financial group also came with quarterly statistics. Helped by growth in, among other things, the investment branch, the net profit went up considerably.
Under the line, Goldman Sachs left nearly 2.6 billion dollars last quarter against more than 1.8 billion dollars in the same period last year. The income went up by almost a fifth to 9.4 billion dollars.