INSUBCONTINENT EXCLUSIVE:
The Wall Street firm made the announcement Tuesday, saying Solomon would become CEO and join the board on October 1.
In a staff memo,
And, as a chief operating officer, David has demonstrated strategic insight into all of our businesses, focusing on the key trends that will
Sachs Today, our firm is announcing that I intend to step down as chief executive officer at the end of September and remain as chairman
until the end of the year, and that David Solomon will succeed me in both roles
After I retire, I will be honored to serve as senior chairman to support our firm where I can.
I always knew this day would come
hard for me to imagine leaving
logic, it feels like the right time
I am very optimistic that our firm has tremendous opportunities ahead and will continue to earn its distinctive position
150th year.
Thirty-six years at Goldman Sachs and over 12 years as chairman and CEO is a long time
As I get distance from my role, I suspect people will ask me what I miss most about the firm and the special opportunity to lead it.
I
already know the answer: all of you
count on you to bear down, help our clients and focus on solutions and getting better
In better times, I have fed off your excitement, ideas and passion
And, there were times when your support got me through my own challenges.
I want to congratulate David
And, as a chief operating officer, David has demonstrated strategic insight into all of our businesses, focusing on the key trends that will
shape them and what our clients will most value from us in the years to come.
I want to especially thank my wife, Laura, and our children,
Alex, Jonathan and Rachel
I could not have gone through the ups and downs of the last 12 years without their patience, love and constant support.
I hope to pursue
other interests in my life, but I will never do anything that will be as much a part of me as working with all of you in such a special
