By Sue Chang
Goldman Sachs
GS, +1.21%
is planning to name President
David Solomon to succeed Lloyd Blankfein as chief executive officer as
early as this week, the New York Times reported late Sunday, citing
unnamed sources. People had widely expected Solomon to be tapped for the
powerful post since his appointment as the investment bank's president
in March, the newspaper said. However, the official announcement of his
promotion had not been expected until later this year, the report said.
Goldman Sachs is scheduled to report second-quarter earnings on Tuesday.
The bank's stock fell 0.4% to close at $226.41 on Friday and is down
11% for the year, underperforming the S&P 500
SPX, -0.06%
which is up 4.8%.
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Source: MarketWatch (via Empire Report New York)
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