The board has discussed a plan where Waldron, who is currently chief operating officer, would succeed David Solomon as CEO as early as next year, the Wall Street Journal reported.

It’s becoming more apparent that Waldron, 57, long seen as the likely successor, is nearing the final step in his rise to the top of Goldman. Last year, the board telegraphed its view of Waldron’s future when it gave him a restricted stock package now worth nearly US$120 million to stay five more years — matching the incentive given to Solomon.

But the timing has remained unclear. Solomon, 64, has been in the job for eight years. And while his early-tenure push into the consumer business faltered, the bank’s been riding high in the years since, with its equity-trading desk hitting record after record and its investment bankers reeling in the highest fees since 2021. 

With the latest plan, Waldron could take over toward the end of 2027 or in 2028, the Journal said, citing people familiar with the matter whom it didn’t identify. Solomon would likely become executive chairman for about one or two years after he steps down as CEO.

“Of course the board regularly discusses succession, as we disclose in our filings, but there is no definitive timeline for succession at Goldman Sachs,” Tony Fratto, a bank spokesman, said in an emailed statement. “Any assertions about timing are just speculation.”

Waldron, who is also Goldman’s president, joined the bank back in 2000 and has steadily risen. He ran the media and entertainment banking group before becoming a head of leveraged finance.