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Wall Street Expects Goldman’s CEO Succession to Go Smoothly

By Tony Seruga

Solomon is ‘well versed’ in the firm, may expand new business
Goldman shares outperform the broader KBW bank index

Goldman Sachs Group Inc.’s choice of Chief Operating Officer David Solomon to eventually succeed Lloyd Blankfein as chief executive is winning accolades on Wall Street.

By naming Solomon sole president, the firm cleared the way for him to take the helm, a scenario that analysts say allayed the concern some investors had about there possibly being co-CEOs when Blankfein retires. They also cited Solomon’s diverse background and investment-banking expertise as benefits, and said Goldman’s transparency in laying out the succession plan will help insiders at the firm focus on doing business instead of wondering who’s going to take over as CEO…

Wall Street Expects Goldman’s CEO Succession to Go Smoothly

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