Lloyd Blankfein

Lloyd Blankfein grew up in a public housing project in the South Bronx and studied history and law at Harvard. He joined J. Aron & Company, a commodities trading firm, in 1982 — which was subsequently acquired by Goldman Sachs. He rose through Goldman's commodity and currency trading divisions, becoming head of the global currencies, commodities, and equities division before ascending to CEO in 2006, succeeding Hank Paulson. Blankfein led Goldman Sachs through the most turbulent period in its history. During the 2008 financial crisis Goldman converted from an investment bank to a bank holding company, gaining access to Federal Reserve liquidity facilities and accepting $10 billion in TARP funds — which were repaid in 2009 with a $2.3 billion premium. Despite the crisis Goldman generated $13.4 billion in net earnings in 2009 — record profits — earning enormous public criticism and the memorable quip from Blankfein that the firm was doing "God's work." He stepped down as CEO in 2018, succeeded by David Solomon. During his tenure Goldman expanded significantly in consumer banking with Marcus and in Asia. Blankfein was notable for his wit and candour in public settings and for maintaining Goldman's reputation as the premier adviser on major global transactions.