Goldman Sachs Prepares for Leadership Change with Waldron as Likely Successor
Goldman Sachs is reportedly planning to replace CEO David Solomon with President and COO John Waldron as early as 2027, ending a nearly decade-long tenure at the helm of the bank. This succession plan has been in discussion for some time, with The Wall Street Journal first reporting that the board had discussed Solomon's potential departure and Waldron's ascension to the top job.
The two executives share common career routes, having both worked at Bear Stearns earlier in their careers before joining Goldman within a year of each other. Waldron has been serving as president and COO since 2018 and was added to the firm's board in early 2025. He received an $80 million retention bonus in restricted stock along with Solomon in January 2025.
The expected transition arrives at a moment when CEO succession is becoming a live issue across major U.S. banks, including JPMorgan Chase and Bank of America. Goldman's current leadership has overseen significant growth, including building its wealth and asset management platform to $1.9 trillion in client assets under supervision.