One of Goldman Sachs Group Inc.’s longest-tenured CEOs is set to depart, according to a Wall Street Journal report. The paper said Goldman head Lloyd Blankfein is set to step down as early as the end of 2018, capping a roughly 12-year run at the helm of the world’s most prominent investment bank. The report indicated that Goldman would aim to replace Blankfein with either of the bank’s two co-presidents, Harvey Schwartz (a former CFO of the company) or David Solomon. The 63-year-old Blankfein could also retire in the bank’s 150th anniversary year of 2019. Either way, the bank appears to be laying the groundwork for succession after Blankfein helped guide the bank out of the 2007-08 financial crisis. Shares of Goldman were up 1.5%, along with the rest of the market, amid the news. For the year, Goldman’s shares were up 6.2%, compared with the S&P 500 index , which is up 3.6% so far in 2018. The Dow Jones Industrial Average , of which Goldman is a component, was up 1.3% at midday.
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