Goldman to name David Solomon as CEO early this week

The Goldman Sachs Group, Inc. has announced today that Lloyd C. Blankfein will retire as Chairman and Chief Executive Officer and that the Board of Directors has appointed David M. Solomon to succeed him in both roles.

Goldman's announcement came as the bank reported a 44 percent jump in second-quarter earnings to $2.3 billion earlier Tuesday thanks largely to strong revenues in advising clients on mergers, initial public offerings and other transactions.

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When he's not in the office, Solomon is a part-time DJ, spinning records in NY and Miami clubs under the name DJ D-Sol, CNN Money reported.

David Solomon, Goldman Sachs' next chief executive, soon to be one of the most powerful figures on Wall Street, is also an electronic dance DJ.

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Mr Solomon, the Wall Street investment bank's president, has been regarded for months as the likely successor to Lloyd Blankfein, but his expected confirmation is earlier than many had expected.

With Blankfein in charge, Goldman became a profit powerhouse, with the onetime commodities salesman steering the company through the worst financial crisis in 80 years. He held the position for a decade before being named co-president of Goldman in 2016.

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