Goldman Sachs Officially Names David Solomon as New CEO
*By Alisha Haridasani*
After months of speculation, Goldman Sachs officially announced on Tuesday that David Solomon will succeed Lloyd Blankfein as chief executive ー the second transfer of power at the bank since it began trading as a public company in 1999.
Solomon, the bank’s president and a [part-time DJ](https://www.cnbc.com/2018/07/16/goldman-sachs-ceo-david-solomon-djs-around-the-world.html), will take the reins on October 1, and Blankfein will stay on as chairman of the board until the end of the year.
Blankfein worked with the bank for over two decades before he secured the top job in 2006. He steered the bank through the tenuous financial crisis and oversaw its latest efforts to enter consumer banking.
After a stint at Bear Stearns, Solomon joined Goldman Sachs’ investment-banking arm as a partner in 1999, shortly after the company went public, and became the group's head in 2006. In 2016, he ascended to co-president, alongside Harvey Schwartz.
"David is the right person to lead Goldman Sachs," Blankfein said in a [statement.](http://www.goldmansachs.com/media-relations/press-releases/current/07-17-2018-announcement.html) "He has demonstrated a proven ability to build and grow businesses, identified creative ways to enhance our culture and has put clients at the center of our strategy."
The announcement came the same day Goldman reported second quarter earnings. The company generated a better-than-expected $2.6 billion profit and a 19 percent jump in revenue, thanks to strength in the investment banking business, Solomon's old orbit.
The video announcement Friday came after weeks of speculation spread on social media about her whereabouts and health since she was hospitalized in January for unspecified abdominal surgery.
Chip Giller, co-founder, and Amy Seidenwurm, Chief of Programs and Strategy at Agog: The Immersive Media Institute, discuss how the organization uses the virtual world to make real change.
Luminary founder and CEO Cate Luzio shares some of the company’s latest Women’s History Month events and why there’s so much to celebrate about women in the workplace.
WSJ reporter Ray Smith breaks down why more companies are offering ‘dry’ promotions – a responsibility or title bump with no pay raise – and the pros and cons of accepting them.
Apple says a Justice Department antitrust lawsuit accusing it of engineering an illegal monopoly in smartphones in the U.S. is “wrong on the facts and the law.”
As Reddit shares begin trading at the NYSE, ‘Einstein of Wall Street’ Peter Tuchman breaks down the social platform’s debut and what it means for the overall IPO market in 2024.
CEO and co-founder of Alix, Alexandra Mysoor, discusses why it’s so important for everyone, regardless of income, to both plan and settle their estates.
After the Fed forecast three cuts to come in 2024, Kevin D. Mahn, President and CIO at Hennion & Walsh Asset Management breaks down why the market looks strong, and he sees some reasons for concern in Reddit’s choice to IPO.
