Goldman Sachs boss says retirement report like “listening to own eulogy”

The chief executive of Goldman Sachs has said reading a report forecasting his imminent retirement plans was like hearing his own eulogy – indicating the bank's boss is staying put for the near future.

The Wall Street Journal had reported yesterday that Blankfein is gearing up to stand down from the helm "as soon as the end of the year" after more than 12 years steering the firm.

The article put the spotlight on David Solomon and Harvey Schwartz as potential successors, after they were named co-presidents and co-chief operating officers at the end of 2016.

Read more: Lloyd Blankfein says Goldman Sachs will have two EU hubs after Brexit

But on Twitter, Blankfein branded the report the Wall Street Journal's announcement "not mine".

"I feel like Huck Finn listening to his own eulogy," he added.

It's the @WSJ's announcement…not mine. I feel like Huck Finn listening to his own eulogy.

— Lloyd Blankfein (@lloydblankfein) March 9, 2018

The report did add that the timing of a move could change, and that Blankfein was "firmly in control of his exit", but the current plan was that he would retire ahead of, or early in, Goldman's 150th anniversary year in 2019.

The news comes as Goldman Sachs' Brexit plans take shape.

Blankfein has been vocal on his thoughts regarding Brexit, saying in January that Goldman's preparations will soon reach a point where things "are not going to be undone".

Then earlier this week, it was reported that Goldman had warned more than a dozen City trading and sales staff that they should be prepared to move to Frankfurt within weeks.

Blankfein has previously called for another vote on the UK's "monumental and irreversible" decision to leave the EU, saying in a November tweet: "So much at stake, why not make sure consensus still there?"

Read more: Goldman Sachs boss Lloyd Blankfein calls for a second vote on Brexit

Original Article

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *