David M Solomon is likely to be the next CEO of Goldman Sachs (its headquarters pictured) as co-president and rival Harvey Schwartz announced his retirement on Monday. Schwartz, the firm’s co-chief operating officer (CCOO), will quit his post on April 20. Goldman said Solomon will become the president and COO after Schwartz leaves. The current Chairman and CEO of Goldman Lloyd Blankfein said he would continue working closely with Solomon in serving the clients and ensuring good returns for shareholders. The departure of 63-year-old Blankfein is not clear although a Wall Street Journal report on Friday said he may leave by the end of the year. Blankfein tweeted that was the Journal’s new, not his. Solomon’s elevation appears to be certain once Blankfein vacates his post. Solomon, 56, leads a colourful life apart from being a top official in an iconic company on Wall Street. He is known as a wine collector and moonlights as DJ (disc jockey) D-Sol in New York, the Bahamas, and Miami. This twin life as a banker and DJ may be an attempt by him to lead a more balanced life by pursuing diverse interests. He used to drive home this message to his junior colleagues to make their careers more successful and tries to lead by example.
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