Lloyd Blankfein - Please release an exit strategy of when you plan to step down as CEO

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Lloyd Blankfein  - Please develop and release an exit strategy of when you plan to relinquish your responsibilities as CEO of Goldman Sachs. 

In a Financial Times article published on November 17th, 2009

Lloyd Blankfein, Goldman’s chief executive, told a corporate conference in New York that the bank regretted taking part in the cheap credit boom that had fuelled the pre-crisis bubble. “We participated in things that were clearly wrong and have reason to regret,” said Mr Blankfein. “We apologise.”

HuffPost, The Blog November 14th, 2013 - Goldman Sachs ‘Doing God’s Work’

"Simultaneously, Lloyd Blankfein, CEO of Goldman Sachs, the firm that needed a $10 billion bailout from the US government, was explaining that an investment banker’s role was one of “doing God’s work.”

Business Insider. Jan. 27, 2011 - Goldman Sachs Can't Say It Didn't Get Bailed Out Anymore -- It Kept Billions From AIG

"Even though Goldman Sachs execs testified on the Hill that AIG bailout funds it received did not stay with the bank, but were dispersed as compensation to clients and institutions on the other side of a prop trade gone wrong, it actually kept $2.9 billion for itself, according to a report by the FCIC."

After 12 years at the helm of Goldman Sachs and as someone who has experienced harm like many other Americans, through no fault of my own during the financial crisis, I feel that it is right to ask Lloyd Blankfein to consider an exit strategy as CEO of Goldman Sachs. 

Compensations history of Lloyd Blankfein (Reuters) 

2010 - $14.12 Million/Bonus $5.4 Million

2011 - $16.2 Million

2012 - $21 Million

2013 - $23 Million 

2014 - $24 Million 

2015 - $22.6 Million 

2016 - $22 Million

 *Goldman Sachs received $10bn of money from the US treasury's troubled asset relief programme (TARP).

 

Industry Notes

 

DealBook, September 15th, 2011 - Mack to Step Down as Chairman of Morgan Stanley

"Mr. Mack, a former chief executive of the company, has been chairman since early 2010. He is expected to retain a senior advisory role."

Bloomberg, March 9, 2017 - AIG Says CEO Hancock to Quit

"American International Group Inc. Chief Executive Officer Peter Hancock is stepping down after posting four losses in six quarters, results that hurt investors including activists Carl Icahn and John Paulson."

The Wall Street Journal, Sept. 11, 2017 - Goldman Sachs’ Edith Cooper to Leave Firm

"Edith Cooper, Goldman Sachs Group Inc.’s head of human resources and one of the highest-ranking black women on Wall Street, is leaving the firm at the end of the year, according to an internal memo."

USA Today, Jan 29th, 2018 - J.P. Morgan's Jamie Dimon to stay CEO for 5 more years, but bank promotes possible successors

"in a press release after the close of trading Monday, Dimon, 61, who said he will stay on as chief executive for "approximately five more years," announced the promotion of Daniel Pinto, 55, current CEO of the J.P. Morgan's corporate and investment bank, and Gordon Smith, 59, the CEO of consumer and community banking."

 Contact email of Steven Yearwood

steven@myurbans.com 

 



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