Financials

Watch Goldman Sachs CEO Lloyd Blankfein live at the New York Economic Club

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Goldman Sachs Chairman and CEO Lloyd Blankfein is set to speak during a luncheon at the New York Economic Club Tuesday afternoon.

Blankfein is preparing an exit after a 12-year tenure atop the Wall Street powerhouse. No formal timeline has been set for his exit but David Solomon, who became sole president of the bank in March, is considered the likely successor.

Among the big U.S. investment banks, Goldman is the most dependent on trading revenue, and is looking to transition into more profitable lines. Its investment banking arm, for example, notched $2.14 billion in net revenues last quarter and $7.37 billion for the year, its second best ever. Mergers and acquisitions continue to be a mainstay for the firm.

Goldman Sachs announced a plan to increase its revenue by $5 billion over three years, which Solomon said in May the bank was "on track or ahead" to do.