NEW YORK — Goldman Sachs said Monday that Harvey Schwartz, its co-chief operating officer, will retire next month, clearing the way for David Solomon to eventually become the next chief executive of the Wall Street firm.
Schwartz and Solomon jointly hold the positions of co-chief operating officer and president. Both had been considered likely successors to Lloyd Blankfein, the current CEO.
The Wall Street Journal reported last week that Blankfein is considering retiring at the end of this year, and named both Schwartz, 54, and Solomon, 56, as the only two candidates being considered to replace him. With Schwartz retiring effective April 20, that would leave only Solomon.