Lloyd Blankfein, CEO of giant investment house Goldman Sachs, announced he has cancer.
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Investors were understandably jolted by Tuesday’s announcement that Goldman Sachs chief Lloyd Blankfein has a “highly curable” form of cancer.
Mr. Dimon finished his scheduled treatments for the disease last fall and continued to lead the bank while undergoing radiation and chemotherapy.
Credit: The Huffington Post ” There are many people who are dealing with cancer every day. “My doctors have advised me that during the treatment, I will be able to work substantially as normal, leading the firm”, Mr. Blankfein said.
Harvey Schwartz, 51; Vice Chairman Michael Sherwood, 50; David Solomon, 53, co-head of investment banking; and Pablo Salame, 49, who helps lead the trading division, are all seen as potential choices, according to current and former colleagues.
Henry Paulson left to become U.S. Treasury secretary in 2006.
Just over a year ago, JP Morgan Chase (NYSE: JPM) chief executive officer Jamie Dimon was diagnosed with throat cancer. Blankfein, who has been Goldman’s CEO since 2006, said that he will continue working while undergoing chemotherapy during the next several months. The most common form is non-Hodgkin’s lymphoma, which affects 38,000 men annually and has a five-year survival rate of about 70 percent.
In a statement posted to the company’s website, Blankfein said that after feeling poorly for several weeks this summer, he underwent a series of tests that ended last week with a biopsy. Blankfein will, however, reduce some of his previously planned travel during the treatment period. “I draw on their experiences as I begin my own”. “I have a lot of energy and I’m anxious to begin the treatment”, Blankfein said in a statement.
He became a billionaire earlier this year when the growth in Goldman’s share price boosted the value of his stake in the firm.
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On Wall Street, Blankfein is widely admired for having sustained morale at the firm during the financial crisis and guided Goldman back to profitability and prominence in a new, more constrained landscape marked by the 2010 Dodd-Frank financial reform law.
