Goldman Sachs CEO Lloyd Blankfein could leave at year-end


The Goldman Sachs Group Inc. chief executive officer pushed back Friday against a Wall Street Journal report that said he plans to step down as soon as the end of this year. Blankfein, who steered the firm through the financial crisis, has yet to set a timetable for his departure or discuss his plans with senior colleagues, one of the people said.

It was under Blankfein that Goldman was tagged with the infamous "Vampire squid" moniker, thanks to a 2010 Rolling Stone piece - a nickname that the bank has never been able to shake.

Gary Cohn, who previously was Goldman's chief operating officer, left past year to become chief economic adviser to President Donald Trump. "He rose through the ranks of the firm's trading business and was named CEO in 2006 when Hank Paulson became Treasury secretary". He was considered at the time as the most likely successor to Blankfein.

Goldman declined to comment on the Journal report. Even though he supported Hillary Clinton during the 2016 election, Blankfein recently told CNN the economy is "higher" under Trump than if Clinton had won. Last June, he used his first-ever tweet to slam Trump's decision to leave the Paris climate accord.

Blankfein, 63, was diagnosed with lymphoma, which Goldman disclosed to investors in September 2015. Bank of America, Citigroup, Morgan Stanley and Wells Fargo have all replaced their CEOs over the years.

Over the past year, Goldman stock has lagged far behind rival Morgan Stanley as well as bigger banks, such as Citigroup and Bank of America.