Here’s why we’re not surprised to hear that Lloyd Blankfein’s friends say this is his last year at Goldman.
We did a quick search of the Goldman leadership in its modern history.
Lloyd Blankfein was elevated to CEO in May, 2006. So he’s coming up to 5 years.
Before him, Hank Paulson was at the helm from 1999 (the year the bank IPO’d) to early 2006: about 6 years.
Before that, Jon Corzine was in charge between 1994 and 1999: about 5 years.
Before him, Robert Rubin and Stephen Friedman were Co-Senior Partners from 1990 to 1994: about 4 years.
Before that crew, the firm (not yet public) was overseen by John Weinberg and John Whitehead for a lot longer than five or six years! (14 years to be exact…)
But in the firm’s modern history — about 5 years is the average. And Lloyd’s 5-year anniversary happens this May.