David Solomon Named Goldman Sachs President

MarketsETF Trends

This article was originally published on ETFTrends.com.

Goldman Sachs will soon be dancing to a new tune under the guidance of investment banker and part-time disc jockey, David Solomon, 56.

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The Goldman Sachs Group, Inc.  announced that Harvey Schwartz, the firm’s President and Co-Chief Operating Officer, has decided to retire effective April 20, 2018 and that Solomon will serve as sole President and Chief Operating Officer of the firm upon Harvey’s retirement.

Lloyd C. Blankfein, Chairman and CEO of Goldman Sachs who has led the firm for almost 12 years said, "I look forward to continuing to work closely with David in building our franchise around the world, serving our expanding client base and delivering strong returns for our shareholders.”

Solomon worked in junk bonds at Bear Stearns before becoming a partner at Goldman in 1999 and was global head of the financing group at the bank before becoming co-head of the investment banking division from July 2006 to December 2016.

Bennett Goodman, a senior managing director of the private-equity firm Blackstone, said in an email to The New York Times, “He’s client-centric, direct and candid,” “You never doubt he’ll tell you what he really believes even when it’s not what you want to hear.”

Goldman is not your traditional financial man. He is well known for his hobbies including being a disc jockey.

You can hear his music on Instagram at DJ Sol Music! Solomon also serves on the board of The Robin Hood Foundation, New York City's largest poverty-fighting organization and is on the board of trustees at Hamilton College, where he graduated in 1984.

He's made huge strides already for Sachs and challenged them in critical areas such as gender equality, demanding that Goldman’s recruiters increase their hiring of women.

At a time where Goldman Sachs is changing its business model and branching out, it would seem that someone who can think outside of the box like Solomon could be the perfect fit for the their mission.

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