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David vs. The Goldman Goliaths

Fairly or not, these days it seems that everything David Solomon does endures extreme scrutiny.
Fairly or not, these days it seems that everything David Solomon does endures extreme scrutiny. Photo: Niall Carson via WPA Pool/Getty Images
William D. Cohan
July 5, 2023

The media has been having a field day on the topic of David Solomon’s tenure atop Goldman Sachs, thanks in large part to the restless unnamed Goldman partners and other executives who seem to have it in for the guy. From the New York Times, the Wall Street Journal, and the New York Post, to another Economist cover, to the august Financial Times, and Insider, speculation is rife about Solomon. There have been stories about how John Waldron, Solomon’s No. 2, will take over for him. Or that Richard Gnodde, the C.E.O. of Goldman’s international operations, might step in. Or that Steve Scherr, the bank’s former C.F.O. and current C.E.O. of Hertz, would return as the head of Goldman. Then there is the insane idea, recently socialized in Jimmy Finkelstein’s The Messenger, that Goldman might return to the days when it was a partnership and appoint two men to lead the firm together, as it was run during the eras of Bob Rubin and Steve Friedman, or even John Whitehead and John Weinberg