Schwartz to retire from Goldman, boosts Solomon as next CEO
Editors Note APNewsNow
By KEN SWEET
AP Business Writer
NEW YORK (AP) _ Harvey Schwartz, a top executive at Goldman Sachs, is retiring next month, clearing the way for David Solomon to eventually become the next chief executive of the Wall Street firm.
Schwartz and Solomon jointly hold the positions of co-chief operating officer and president. Both had been considered likely successors to Lloyd Blankfein, the current CEO.
The Wall Street Journal reported last week that Blankfein was considering retiring at the end of this year, and named both Schwartz and Solomon as the two only candidates being considered to replace him. With Schwartz retiring, that would leave only Solomon.
Gary Cohn, who previously held the position occupied by Schwartz and Solomon, left last year to work for the Trump administration. Last week, Cohn announced his resignation from the White House.
By The Associated Press, Copyright 2018