Goldman Sachs (GS) Board Discusses Naming John Waldron Chief Executive
Source: Insider Monkey ·
The Goldman Sachs Group, Inc. (NYSE:GS) may name chief operating officer John Waldron as its next chief executive as soon as next year, according to a Wall Street Journal report on September 28. He would succeed David Solomon. Waldron has been widely reported as the likely successor since becoming president and chief operating officer, so […]
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The Goldman Sachs Group, Inc. (NYSE: GS ) may name chief operating officer John Waldron as its next chief executive as soon as next year, according to a Wall Street Journal report on September 28. He would succeed David Solomon. Waldron has been widely reported as the likely successor since becoming president and chief operating officer, so the news here is the timing rather than the name. READ ALSO: Citigroup (C) Lines Up a $3 Billion Banamex IPO for January Goldman Would Hand Over a Firm Earning 16.9% on Equity: Solomon would not be leaving under pressure on results, which is the unusual part. Most chief executives of large banks depart after something has gone wrong. Goldman generated about $67.57 billion of revenue over the past twelve months. In the most recent quarter alone, revenue rose 42.5%, and earnings rose 78% against a year earlier, and return on equity reached 16.9%. Trading and advisory work have both recovered, and the consumer banking experiment that damaged the…