Goldman Sachs names David Solomon as its new Chairman and CEO

New York-based investment banking and financial services giant Goldman Sachs has confirmed that David Solomon will become its new Chairman and CEO following significant speculation around the appointment.

Solomon will succeed Lloyd Blankfein who previously revealed he would be retiring from the combined role, having stood at the helm of the company since 2006.

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“I want to express my deep appreciation for the opportunity to work with and benefit from so many talented and dedicated colleagues,” said Blankfein. “My job has also allowed me to engage with many of the most impressive business leaders around the world and I thank them for allowing me to help support their goals and priorities.”

The latest appointment comes as an internal promotion for Solomon who has acted as President and Co-Chief Operating Officer of the company since 2016.

“I am honored and humbled to have the opportunity to lead Goldman Sachs and I appreciate the confidence Lloyd and the Board of Directors have placed in me,” said Solomon.

“I am excited about the opportunities for growth and know how vital our culture of client service and teamwork is to our success.”