Goldman to formally name David Solomon next CEO early this week

David Solomon

Goldman Sachs Group Inc named David Solomon as its next chief executive officer on Tuesday, replacing Lloyd Blankfein who will step down on September 30.

Blankfein told CNBC earlier this year that he expected Solomon to succeed him when he decides to leave.

Blankfein, 63, will stay on for an interim period, the New York Times reported, citing people briefed on the matter, who said the announcement could come as soon as Monday.

Goldman Sachs declined to comment.

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Solomon, Goldman's President, would be the successor to Lloyd Blankfein. Schwartz was viewed as Solomon's main rival for the top job.

Solomon joined Goldman as a partner in 1999.

Solomon was named president in March.

During the intervening years, Blankfein led the firm through the financial crisis and the subsequent fallout surrounded by a coterie of loyalists, some of whom worked shoulder-to-shoulder with the CEO at commodities trader J. Aron & Co.

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