Goldman Sachs CEO David Solomon May Step Down by 2028

Goldman Sachs' CEO David Solomon may be stepping down as soon as 2027, according to a Wall Street Journal report. The board has discussed a plan for President and COO John Waldron to replace him. Discussions have involved a handoff around the end of 2027 or in 2028.

Solomon framed his growth case on a 5- to 10-year view, saying that if Goldman can grow revenues 6%, they can deliver better than 10% earnings growth. The current consensus puts revenue growth at around 2% in 2027 and under 1% in 2028.

Solomon also flagged credit risk, stating that some structured AI financings carry investment-grade ratings without true investment-grade risk. However, he said this is not a scale that makes him overly concerned.