The Wall Street firm revealed on Monday that co-president Harvey Schwartz, a potential successor to Blankfein, will retire next month after 20 years.
Schwartz will leave the bank on April 20, and Solomon will serve as the sole president and chief operating officer, the New York-based bank said in a statement Monday. Blankfein himself has yet to announce a retirement date.
Solomon rose through the financing business after joining as a partner from Bear Stearns Cos. and ran the firm's top-ranked investment-banking business for a decade.
"You will have a banker at the top of Goldman Sachs, where it's been a trader for the last 12 years", he said, referring to Blankfein's resume.
The end of Blankfein's tenure at the top of Goldman Sachs has always been a Wall Street talking point. In 2009, Schwartz' department made more than $33 billion for the bank.
"Harvey's work ethic, command of complexity, and client focus have defined his career at the firm", Blankfein said in the statement. "Harvey has been a mentor to many, and his influence has made an indelible impact on generations of professionals at Goldman Sachs". What's more, Blankfein and JPMorgan's Jamie Dimon are the only two remaining big bank CEOs from the 2008 financial crisis. The succession of Jack Welch, the former CEO of General Electric, took six years, turning into a closely-watched, three-man horserace that finally ended when Jeffrey Immelt won the role in 2000.
Solomon, according to media reports, is described as an affable, strong manager who professionalized the firm's investment banking unit and is known for his efforts to improve the working hours of its young employees and promote diversity and inclusion at the firm.
In addition to her pets, Kylie has been revealing a lot of information to her fans. "But her little toes get me every time ". Teen Vogue stated that Kylie adopted the grey bunny back in 2015 and proudly displayed him on various social media websites.
Trump also used the speech to double down on executing drug dealers, a solution he said has worked in China and Singapore. While acknowledging that working-class voters supported Trump in 2016, he said this race was not about the president.
Moreover, for the first time, Ivy and David even did not see each other, due to the fact that their communication was online. It should be noticed that these two people began relations just as friends, as they lived in different countries.
The atrocities by the Myanmar security forces drove out some 700,000 Rohingyas to Bangladesh since August 25 past year . A human rights group says Myanmar is building bases on land where the homes and mosques of Rohingya Muslims once stood.
According to his database, there has only been two occasions where a player did not miss any games after a concussion. If he is not free of symptoms after a step, he has to stop until he is symptom free and start the stage over.
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The story so far: President Donald Trump accepted North Korea's invitation for direct talks with Kim Jong Un , to be held by May. The U.S. fully expects the meeting to take place, the White House said shortly after Tillerson's remarks.
Chief executive Peter Terium resigned late past year in the wake of a profit warning leaving Uwe Tigges as interim CEO. Innogy had been an investment target of interest for other European utilities including Engie, Enel and Iberdrola.
We’ve already seen the green shoots of something great this term and look like they could make a playoff push next season. Cavs have work cut out The defending champs have their work cut out keeping the title winning roster together this summer.
While Luke will probably have a key role to play in the new movies, it’s certain the new actors will dominate the storyline. He felt he needed to know what all those years have done to Luke even if the material doesn’t get told in the actual movie.
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