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Goldman CEO Blankfein to step down as soon as year-end

Meet the 2 men in position to replace Lloyd Blankfein at the top of Goldman Sachs

While the timing of Blankfein's actual departure could still change, according to the report, when he does step away, a "quick transfer of power" is likely to occur from within the bank's internal ranks, according to the Journal.

It's a possibility following today's news that Lloyd Blankfein, CEO of Goldman Sachs since 2006, will be retiring as soon as the end of this year.

Lloyd Blankfein is the current CEO of Goldman Sachs.

Blankfein, 63, has steered the USA investment bank for almost 12 years, outlasting calls for his departure in the aftermath of the 2007-2009 financial crisis and staying in the job even as he battled cancer. Dow Jones reporting the Chief Executive's successor will be one of the firm's two co-presidents, Harvey Schwartz or David Solomon.

He's had the job for 12 years, and steered the bank through the 2008 financial crisis.

Meet the 2 men in position to replace Lloyd Blankfein at the top of Goldman Sachs
Goldman CEO Lloyd Blankfein Is Reportedly Preparing to Step Down

Following the 2008 crisis, Blankfein became the poster child for Wall Street's role in fueling the meltdown.

Gary Cohn, who previously was Goldman's chief operating officer, left a year ago to become chief economic adviser to President Donald Trump.

The bank recently has been flat or at a loss in its traditional business, bond trading, even as its rivals have gained.

Goldman declined to comment on the Journal report. He later served as a vice chairman in for the fixed income, currency, and commodities division. Former bankers who joined the White House included ex-president Gary Cohn, as well as ex-adviser Steve Bannon and Steve Mnuchin, who now runs the Treasury.

BJP gets shot in arm with big expansion in the Northeast
Sangma in 2013 after he parted ways with Sharad Pawar-led Nationalist Congress Party. Speaking to media persons Sangma said "Our priority is very clear".

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