Lloyd Blankfein will probably step down as Goldman Sachs Group Inc.’s chief executive officer in December, the New York Times reported, citing people familiar with the firm’s plans.
David M. Solomon, who was named president in March, will take the top spot, the newspaper said. While Blankfein is likely to depart around the time of the firm’s annual dinner for alumni, the timing could still change, the Times said.
Goldman Sachs set the stage for its next era in March by naming Solomon as sole president under Blankfein, picking him over Harvey Schwartz as heir apparent for the CEO spot. That’s spurred questions of when the handoff will take place. Blankfein has said publicly that Solomon would benefit from more time in his current role, but that the change would likely happen before Blankfein himself was ready to move on.