Goldman Sachs Has A New CEO

CBJ — Goldman Sachs Group has named David Solomon has its new CEO.  Until now, Solomon had served as the bank’s chief operating officer.

Meanwhile the company reported a better-than-expected jump in quarterly profit, but investors focused on relatively weak performance in its main businesses.

The change of leadership comes at a turning point for Goldman Sachs as it tries to generate another $5 billion in annual revenue by growing its consumer bank, squeezing more from businesses like asset management and changing the way it approaches trading.

Overall, Goldman Sachs’ profit in the second quarter rose 44% to $2.3 billion, or $5.98 per share, compared with $1.6 billion, or $3.95 per share, in the same quarter a year earlier.