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.[1] Before leading Goldman Sachs, he was the company's president and chief operating officer (COO) from 2004 to 2006, serving under then-CEO Henry Paulson.
Born and raised in New York City, Blankfein attended Harvard University for his undergraduate and law school studies before briefly entering private law practice. In 1982, he became a precious metals salesman at J. Aron & Co., a small commodities trading firm which was acquired by Goldman in 1981. After leading Goldman's currency and commodities divisions from 1994 to 1997 he was named heir apparent. He served as the president and chief operating officer from 2004 to his ascension to chief executive. Almost immediately after Blankfein assumed the head of the company, the financial crisis of 2007–08 hit the banking industry. His role in handling the crisis was widely praised and criticized by media outlets, making him a public figure.
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. 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.[2][3] According to Bloomberg News, his net worth is estimated to be US$1.1 billion as of July 2015.[4][5][6] His salary at Goldman Sachs in 2018 was estimated to be $24 million.[7][8]
^Moyer, Liz (November 30, 2017). "Blankfein isn't planning to die at his desk at Goldman, after all". CNBC. Retrieved December 29, 2017.
^"Person of the Year 2009". Time. December 16, 2009. ISSN 0040-781X. Retrieved March 15, 2018.
^Gapper, John (December 23, 2009). "Master of risk who did God's work for Goldman Sachs but won it little love". Financial Times. Retrieved March 15, 2018.
^Moore, Michael; Roux, Pamela (July 17, 2015). "Lloyd Blankfein Is Now a Billionaire". Bloomberg.com. Bloomberg News. Retrieved February 14, 2020.
^"Here's what the CEOs of the world's biggest banks earn". Financial Times. Retrieved March 15, 2018.
^"Meet Goldman Sachs's Newest Billionaire: the CEO". Fortune. Retrieved March 16, 2018.
^"Billionaire dodges when asked if "tribalism" tweet referred to Elizabeth Warren's heritage". www.cbsnews.com. November 19, 2019. Retrieved June 30, 2020.
^Cite error: The named reference Pay cut was invoked but never defined (see the help page).
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