By Imani Moise

Goldman Sachs Group Inc. said Monday that Co-Chief Operating Officer Harvey Schwartz will step down next month, paving the way for David Solomon to be groomed as the next chief executive of the bank.

Mr. Schwartz will retire on April 20, and Mr. Solomon will become the sole operating chief.

The Wall Street Journal reported last week that Lloyd Blankfein is set to retire as soon as the end of 2018 and that Messrs. Schwartz and Solomon were top contenders to succeed him.

(END) Dow Jones Newswires

March 12, 2018 09:35 ET (13:35 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Goldman Sachs (NYSE:GS)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Goldman Sachs Charts.
Goldman Sachs (NYSE:GS)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Goldman Sachs Charts.