Goldman Sachs Eyes Leadership Shake-Up with Potential Solomon Succession

Goldman Sachs is reportedly discussing succession plans that would see current CEO David Solomon step down and be replaced by Chief Operating Officer (COO) John Waldron as early as next year, according to sources familiar with the matter.

The bank's board has been deliberating on the plan, which would elevate Solomon to executive chairman. However, it is unclear whether Solomon is willing to relinquish his position and if Waldron is prepared to wait indefinitely for the top spot.

Goldman Sachs has been one of the biggest names on Wall Street, advising on over $1 trillion in merger deals and generating more than $12 billion in equities revenue in the first six months of this year alone. The bank's success has led some industry experts to question the board's decision to replace Solomon, especially given its record second-quarter revenue of $20.34 billion for 2026.

Solomon has been instrumental in reviving Goldman Sachs' fortunes since taking over as CEO in 2018, with shares up more than 300% under his leadership - the second-best performance versus the KBW Bank Index. Only JPMorgan Chase CEO Jamie Dimon has done better.