Mar 9, 2018

Report: Lloyd Blankfein preparing to step down as Goldman CEO

Goldman Sachs CEO Lloyd Blankfein speaks at the Bloomberg Global Business Forum on September 20, 2017 in New York City. Photo by John Moore via Getty Images.

Goldman Sachs' Lloyd Blankfein is preparing to step down as CEO as soon as year's end, reports WSJ. He is expected to be replaced by one of the bank's two co-presidents, Harvey Schwartz and David Solomon.

Why it matters: Blankfein is one of Wall Street's longest-serving and most iconic executives, having guided Goldman through the financial crisis and other major developments throughout his 36-year tenure working for the bank. Blankfein has given no indication of what his future plans might entail, though WSJ notes his three immediate predecessors left for government jobs.

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Axios
Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 30,873,714 — Total deaths: 958,383— Total recoveries: 21,103,559 — Map.
  2. U.S.: Total confirmed cases as of 4 p.m. ET: 6,788,343 — Total deaths: 199,421 — Total recoveries: 2,577,446 — Total tests: 94,211,463 — Map.
  3. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right" — Ex-FDA chief: Career scientists won't be "easily cowed" by political vaccine pressure
  4. Education: What we overlooked in the switch to remote learning
  5. Health: The dwindling chances of eliminating COVID-19.
  6. World: England sets £10,000 fine for breaking self-isolation rules — The countries painting their pandemic recoveries green.
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Alexi McCammond
2 hours ago - Politics & Policy

Biden to Senate GOP after RBG passing: "Please follow your conscience"

Joe Biden made a direct appeal to Senate Republicans in a speech addressing the passing of Supreme Court Justice Ruth Bader Ginsburg, urging them to "cool the flames that have been engulfing our country" by waiting to confirm her replacement until after the election.

The state of play: Senate Majority Leader Mitch McConnell said soon after the news of Ginsburg's death that President Trump's nominee would get a vote on the Senate floor.

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Axios
2 hours ago - Economy & Business

Leaked Treasury documents reveal how dirty money moves through global banking system

Photo: Eduardo Parra/Europa Press via Getty Images

Thousands of leaked government documents covering at least $2 trillion worth of transactions reveal how some of the world's biggest banks knowingly moved around the money of oligarchs, terrorists and criminals, with few consequences, according to a massive investigation by BuzzFeed News, the International Consortium of Investigative Journalists (ICIJ) and hundreds of other news organizations.

The big picture: The investigation, published on Sunday, examines more than 2,100 suspicious activity reports (SARs) filed by banks and other financial firms with the U.S. Department of Treasury’s Financial Crimes Enforcement Network, known as FinCEN.

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