Gold­man’s Blank­fein says ‘feel­ing great’ af­ter can­cer treat­ment

The Pak Banker - - COMPANIES/BOSS -

NEW YORK: Lloyd Blank­fein, chief ex­ec­u­tive and chair­man of Gold­man Sachs Group Inc, said he was "feel­ing great" af­ter his can­cer treat­ment. In his first in­ter­view af­ter re­veal­ing in Septem­ber that he had a "highly cur­able" form of can­cer, Blank­fein said he had un­der­gone 600 hours of chemo­ther­apy. "From the mo­ment I got the di­ag­no­sis, I went about it and dealt with it. I was able to han­dle the meds pretty well," Blank­fein told me­dia, adding that he was also able to go to work. Blank­fein, 61, has led what is viewed as the most pow­er­ful U.S. in­vest­ment bank since 2006, and bank ex­ec­u­tives say he has never hinted at when he might re­tire or his plans af­ter Gold­man. The New Yorker is cred­ited with help­ing to keep the com­pany afloat dur­ing the fi­nan­cial cri­sis with an early de­ci­sion to rein in ex­po­sure to risky mort­gage-backed se­cu­ri­ties and a suc­cess­ful ap­peal to War­ren Buf­fett to in­vest in Gold­man dur­ing the chaotic days af­ter Lehman Brothers went bust.

In the in­ter­view, Blank­fein also touched briefly upon the state of the US econ­omy and the busi­ness out­look for the Wall Street bank. "(The) U.S. econ­omy is not go­ing off the rails," he said, adding that it was not the best mo­ment for Gold­man in the cur­rent cy­cle. "I'm gen­er­ally san­guine. We mud­dle through. I think some of this is an over­re­ac­tion to the over­re­ac­tion of as­sets be­ing so swollen." He said Gold­man could, how­ever, grow its as­set man­age­ment busi­ness and em­brace tech­nol­ogy. On the US Fed­eral Re­serve's re­cent rate hike, he said it was "too early" to judge the cen­tral bank's ac­tions and that it was im­por­tant to avoid de­fla­tion. Blank­fein's life is a clas­sic ragsto-riches story. Born in the South Bronx and raised in a hous­ing pro­ject in Brook­lyn's East New York neigh­bor­hood, he worked his way through Har­vard Col­lege and Har­vard Law School, helped by fi­nan­cial aid.

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