Blankfein was working the party, chatting to people, and at one point he came up to a friend and me and asked how we were doing. [21], — Blankfein (in 2009) on the loss of confidence in the financial industry. Smith's op-ed was criticized by many, particularly because he worked at Goldman for 12 years before deciding to quit because of moral objections. Lloyd Craig Blankfein (born September 20, 1954) is an American investment banker who has served as senior chairman of Goldman Sachs since 2019, and chairman and chief executive from 2006 until the end of 2018. After the Federal Reserve implemented dovish monetary policies and the U.S. Treasury bailed out the company, Blankfein took advantage of low interest rates to undercut competition from other investment banks and established Goldman Sachs as the second largest investment bank in the U.S. as others either went bankrupt or fell to acquisition. The firm was later acquired by the investment bank, Goldman Sachs. [38] His bonus reflected the performance of Goldman Sachs, which reported record net earnings of $9.5 billion. "[7] Under her wealth tax proposal, Blankfein would have owed more than $30 million per year in taxes on his estimated $1.1 billion wealth. [67], On September 22, 2015, Blankfein was diagnosed with a form of lymphoma. [41][42] According to the Financial Times, Blankfein earned an estimated $22.3 million in 2016. [16][17][15] When then chairman Stephen Friedman[18] appointed Henry Paulson as his successor, Blankfein was soon tasked with managing or co-managing the company's currency and commodities divisions from 1994 to 1997. In early 2018 it was reported that Blankfein will retire at the end of the year, Blankfein distanced himself from the reports. During late 2008, the crisis led the Federal Reserve to lower interest rates and the U.S. Treasury to increase public spending in private banks. [28] [29] Nevertheless, as a precaution Blankfein hired Reid Weingarten, a high-profile defense lawyer who represented former WorldCom CEO Bernard Ebbers and former Enron accounting officer Richard Causey . "[35][36], Research published at the University of Oxford characterizes Blankfein's leadership style as paradigmatic of "founder centrism" – which is a founder's mindset, an ethical disposition towards the shareholder collective, and an intense focus on exponential value creation.

In November 2011, he was listed as #43 on Forbes’ List of The World’s Most Powerful People. After my freshman year of college, I [...], Goldman Sachs CEO Lloyd Blankfein (Image credit: AFP via @daylife) Today was a remarkable one for the almost simultaneous appearance of Goldman Sachs CEO Lloyd Blankfein on CNBC and Gary Cohn on Bloomberg from the IMF Conference in Japan. Linkedin; Enviar; Banca. We have made some progress, but we have significant work to do, and we, as leaders of our firm, are committed to doing this critical work. [51], During the 2016 presidential election, presidential candidate Bernie Sanders named Blankfein as an example of corporate greed in January 2016.
[66] The couple have two sons, Alexander and Jonathan, and a daughter, Rachel. [43] Later that day, Blankfein tweeted "It's the @WSJ's announcement...not mine. [9] His father, Seymour Blankfein, was a clerk with the U.S. With Gary Cohn joining the Trump administration, David Solomon and Harvey Schwartz will become top lieutenants to Goldman Sachs CEO Lloyd Blankfein and Martin Chavez will become a more familiar name to the bank's investors as CFO. degree in 1978. Blankfein grew up in the projects in Brooklyn, graduated as a valedictorian from Thomas Jefferson High School before getting a Bachelor and JD degrees from Harvard. [54], At the start of 2012, an international inquiry into the average of interest rates of London known as the London Interbank Offered Rate (Libor), found that there was systemic manipulation by various bulge bracket banks for profit.

View lloyd blankfein’s profile on LinkedIn, the world's largest professional community. His role and handling of the crisis was widely praised and criticized by media outlets, making him a public figure. [53], He is a supporter of gay marriage and has been a spokesman for the Human Rights Campaign, an advocacy group for LGBTQ civil rights.

Mr. Blankfein has held the top spot since 2006 and this would be his 12th year at the top.

Shortly after Paulson was sworn in, Blankfein was asked to serve as chairman and chief executive officer in July 2006. Goldman Sachs' CEO runs a behemoth that boasts nearly $1.5 trillion in assets for corporations, financial institutions, governments and individuals. [57], During the coronavirus pandemic, Blankfein consistently and repeatedly called for loosening coronavirus response measures and reopening the economy. "[60] CBS News described Blankfein as "a leading spokesperson" for the "reopen the economy" movement. [13], Blankfein first worked for the law firms Proskauer Rose and then Donovan, Leisure, Newton & Irvine.

Placed 2nd globally, presenting to Goldman Sachs CEO Lloyd Blankfein and the entire Partnership Committee, securing a grant of US$75,000 for Mumbai based NGO – “Educate Girls”. #ParisAgreement", "Some billionaires want people to go back to work. lloyd has 1 job listed on their profile. Blankfein responded that Sanders' campaign had "the potential to be a dangerous moment.

The compensation included a cash bonus of $27.3 million, with the rest paid in stock and options. in history in 1975. The Goldman Sachs chairman and CEO is Directorship's 2009 CEO of the Year. [68] He received multiple rounds of treatment of chemotherapy and by October 2016 was in remission. [8], On March 9, 2018, The Wall Street Journal reported that Blankfein would step down from leading Goldman Sachs by the end of the year. Blankfein meets all three requisites for a positive outcome: a "curable form" of lymphoma, access and, presumably, expert-guided care. (I had my say here.) He went on to attend Harvard College where he lived in Winthrop House and graduated with an A.B. ", "Lloyd Blankfein Prepares to Exit Goldman Sachs as Soon as Year's End", "It's the @WSJ's announcement...not mine. [1][5][6] His salary at Goldman Sachs in 2018 was estimated to be $24 million. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Goldman Sachs Shakes Up Its Executive Ranks After Gary Cohn Departs For Trump Administration, Goldman Sachs CEO Lloyd Blankfein Not In Favor Of A Full Repeal Of The Dodd Frank Act, After A Lymphoma Diagnosis, Lloyd Blankfein Has Reason For Optimism, Goldman Chief Lloyd Blankfein Discloses 'Highly Curable' Cancer, Goldman Sachs Adds Lloyd Blankfein's Old Boss To Board, Addressing "The Empathy Deficit": What Lloyd Blankfein could Learn at the DMV, Jamie Dimon Needs A Lecture From Goldman CEO Lloyd Blankfein.
Blankfein was twice named one of the most influential people in the world by Time magazine and won the Financial Times Person of the Year award in 2009. [34], On March 15, 2018, Blankfein issued an internal memo advocating for complete gender parity among its workforce.

I feel like Huck Finn listening to his own eulogy. View Lloyd Blankfein’s profile on LinkedIn, the world's largest professional community. © 2020 Forbes Media LLC. [40] He received US$23 million in salary and bonuses in 2015, which was slightly down from the US$24 million he earned in 2014 from Goldman Sachs. [20] In 2004, Blankfein was promoted to president and chief operating officer, a position he served in until June 2006. In November 2011, he was listed as #43 on Forbes’ List of The World’s Most Powerful People.

[47], Blankfein has self-identified as "a registered Democrat, and a Rockefeller Republican ... conservative on fiscal issues and more liberal on social issues". He condemned President Donald Trump's withdrawal from the Paris Accord, saying "Today's decision is a setback for the environment and for the U.S.'s leadership position in the world. "[10][25], On January 13, 2010, Blankfein voluntarily testified before the Financial Crisis Inquiry Commission that he considered Goldman Sachs's role as primarily market maker, not a creator of the product (i.e., subprime mortgage-related securities). [60] In 2019, while criticizing Elizabeth Warren's wealth tax, he alluded to her Native American heritage, saying "Maybe tribalism is just in her DNA.

[39] On April 7, 2009, he recommended guidelines to overhaul executive compensation.