The search is apparently on for the next leader of the iconic Wall Street firm Goldman Sachs.
CEO Lloyd Blankfein could step down as soon as the end of the year, The Wall Street Journal reported Friday, citing sources familiar with the situation. A power transition would likely be quick and the bank "isn't looking beyond Goldman's two co-presidents," the report said, citing sources.
That puts presidents and co-chief operating officers David M. Solomon and Harvey M. Schwartz in the running to head up the bank. They were named to the executive positions in December 2016, following the departure of then-COO Gary Cohn to the Trump administration. Cohn said Tuesday he is resigning from his role as chief economic advisor to the White House.
Goldman declined to comment on the report; however, sources familiar told CNBC there is no timeline set for Blankfein's exit and it could stretch into next year.
Cohn's departure from the bank came as Blankfein was on his way to his 11th year as CEO. Blankfein joined Goldman in 2006 and once joked he would die at his desk there. But the bank's once-mighty trading desks have struggled to return to their peak in 2009, when revenue from the business reached $33 billion.