Lloyd Blankfein, Goldman Sachs CEO, may leave job by year-end

Lloyd Blankfein David Solomon Harvey Schwartz Goldman Sachs

Goldman Sachs

This after a report from the Wall Street Journal revealed that chief executive officer Lloyd Blankfein could be preparing to exit as soon as the end of 2018. The firm also became a target of intense populist anger during the Great Recession.

Blankfein survived a run-in with cancer after being diagnosed with lymphoma in 2015.

The investment bank intends to replace Blankfein, 63, with one of its two co-presidents, David Solomon or Harvey Schwartz, the newspaper said Friday, citing people familiar with the matter that it didn't name. He successfully underwent radiation and chemotherapy and has publicly said he considers himself cured.

News of Blankfein's impending departure has stoked speculation he could be succeeded by former Goldman president Gary Cohn, who stepped down this week from the Trump administration amid a dispute over trade policy. The strong employment numbers should reinforce the U.S. Federal Reserve's drive to hike interest rates several more times in 2018.

Cohn resigned his position at the White House earlier this week and is not expected to return to Goldman.

Blankfein is one of the longest-tenured Wall Street chiefs, exceeded only by JPMorgan Chase boss Jamie Dimon, who recently revealed plans to stay on for another five years. All that remains is Jamie Dimon, CEO of JPMorgan Chase & Co.

Goldman Sachs declined to comment.

Although Blankfein is credited with getting Goldman Sachs back on its feet after the crisis, its trading division has struggled in recent years, and some analysts have faulted Blankfein's leadership.

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