While conceding his criticism of Solomon’s “DJing” is real, he said the two have patched up their relationship so much they are now in regular contact.
“You should know David and I speak regularly, twice in the last week or so,” Blankfein said, adding: “I am having dinner with him this weekend and I am going to an event at his home later this month.”AFP via Getty ImagesThe rekindled bromance between Blankfein and Solomon comes after a. Blankfein, after steering Goldman through the 2008 financial crisis, announced his retirement in 2018.
No long thereafter, the relationship soured, people close to the matter told me. Blankfein didn’t just hate Solomon’s DJ-ing , but he was also critical of the way Solomon ran the firm, believing it had contributed to Goldman’s sagging stock price. Former Goldman execs say Blankfein also felt that Solomon snubbed him, by not asking his opinion on strategic moves, even though he had an office inside the building and was just a phone call away.
While conceding his criticism of Solomon’s “DJing” is real, Blankfein said the two have patched up their relationship so much they are now in regular contact.Solomon’s supporters say the comparison to either Immelt or Chapek is unfair; some of Goldman’s current problems are a function of a broader decline in Wall Street business conditions. The stock is off this year, but since Solomon became CEO, shares are up 40%.
The reason why Bob Chapek is no longer CEO of Disney, and Bob Iger, above, is back, is because the Iger-Chapek partnership similarly fell apart.Maybe most of all, Solomon’s an old-line investment banker, and during last year’s bonus round, he diverted sales and trading profits to pad banker bonuses. The move sparked what one financial services CEO described as a “civil war” inside the bank between the powerful trader and investment banking departments.
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