Goldman Sachs Eyes Leadership Change with Waldron in Line to Replace Solomon

Goldman Sachs' board is reportedly discussing a potential leadership change, with Chief Operating Officer John Waldron in line to take over as CEO from David Solomon at the end of next year or early 2028.

The transition would mark a significant shift for the bank, which has faced challenges under Solomon's tenure, including a post-pandemic dealmaking slump and criticism of his leadership style. The bank also suffered losses related to its consumer banking push, with $3 billion in losses since 2020 and a $65 million fine from the Consumer Financial Protection Bureau.

Waldron has been seen as Solomon's successor for some time, having held several key positions within the firm, including co-head of leveraged finance and co-head of investment banking. He has also played a key role in shaping Goldman's strategy, which is focused on global banking, markets, and asset management.

Waldron has been credited with creating Goldman's AI transformation initiative 'OneGS 3.0' and has spoken publicly about the firm's plans to become more digitized, calling it 'a human assembly line.'