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Stock impact report

Goldman’s Blankfein to retire as CEO [Advisor.ca (Canada)]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Advisor.ca
Another Wall Street veteran of the financial crisis is stepping aside: Lloyd Blankfein is retiring as CEO of Goldman Sachs after 12 years at the helm of the storied investment bank. Blankfein will be replaced by David Solomon, a long-time Goldman executive who has been seen as Blankfein’s chosen successor. Solomon will assume the CEO role from Blankfein on Oct. 1 and become chairman of Goldman in 2019. The announcement came Tuesday as Goldman announced a 44% jump in second-quarter profit from a year ago. The performance was largely driven by the investment bank’s core franchises: advising companies on mergers, acquisitions and other deals, and its trading business. Blankfein took over Goldman Sachs shortly before the Great Recession and financial crisis. Goldman and its competitors accumulated billions of dollars of toxic assets on their books—bad mortgages, collateralized debt obligations and other illiquid assets. In the darkest days of the crisis, it was th Show less Read more
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