Goldman names Solomon CEO Blankfein’s successor

NEW YORK: Goldman Sachs Group Inc. said David Solomon will become sole president of the company, elevating him over Harvey Schwartz as the eventual successor to chief executive officer (CEO) Lloyd Blankfein. Schwartz will leave the bank on 20 April, and Solomon will serve as the sole president and chief operating officer (COO), the New York-based bank said in a statement on Monday. The firm’s board discussed the idea of choosing a single COO under Blankfein at a meeting in February and settled on Solomon, according to a person aware of their discussions.