Is Lloyd Blankfein Planning Exit From Goldman?

Lloyd Blankfein Image by Getty

By Avichai Scher March 9, 2018

Lloyd Blanknfein, CEO of Goldman Sachs for 12 years, is planning to step down this summer, according to the Wall Street Journal. One of two Co-presidents, David Solomon and Harvey Schwartz, are expected to replace him.

Blanknfein, the longest serving CEO at Goldman, succeeded Henry Paulson in 2006, who left to serve as Secretary of the Treasury. Paulson succeeded Jon Corzine, who entered New Jersey state politics after Goldman, serving as a senator and then governor.

But it’s unlikely Blankenfein will turn to politics, at least on the federal level.

CBS News reports that with the recent White House exit of Gary Cohn, the former President and Co-Chief Operating Officer at Goldman, the era of Goldman’s influence at the White House is waning. Cohn left, who served as Trump’s economic adviser, resigned on Tuesday after a dispute with President Trump over trade tariffs.

Steve Mnuchin, the current secretary of the treasury who worked at Goldman from 1985-2002, is the only administration official left who is a former Goldman employee.

Blanknfein has expressed a number of views that clash with President Trump’s, including opposition to Trump’s “travel ban,” and Trump’s decision to withdraw from the Paris climate accord, expressed in his first ever tweet.

Contact Avichai Scher at [email protected] or on Twitter, @avi_scher

A message from our CEO & publisher Rachel Fishman Feddersen

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.

The coming year promises to be filled with more complex and historic developments. We are entering an era where independent, fact-based Jewish journalism will be more important than ever. We need to be ready for whatever 2025 will bring, and with your help, we can be.

We’ve set a goal to raise $260,000 by December 31. That’s an ambitious goal, but one that will give us the resources we need to invest in the high quality news, opinion, analysis and cultural coverage that isn’t available anywhere else.

If you feel inspired to make an impact, now is the time to give something back. Join us as a member at your most generous level.

— Rachel Fishman Feddersen, Publisher and CEO