Goldman Sachs to Name David Solomon as CEO as Early as Next Week: NYT

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)