The leading US businessman and the Chairman and CEO of Goldman Sachs, Lloyd Blankfein is an indomitable executive the world has ever known. He assumed both these positions in 2006. Lloyd has made an investment platform that handles around $911.5 billion in assets.
Lloyd was born on 15th September 1954 in the city of New York. He attended for his primary and secondary education from public schools in the New York City Department of Education. Later, he went to Howard College and Howard Law School for further studies.
Initially, Lloyd had a struggling childhood as he worked as a concession vendor in Yankee Stadium. After his graduation, he joined Proskauer Rose LLP. In 1982, Lloyd joined as a salesman in J.Aron & Co for precious metals in London which is the commodity trading unit of Goldman.
Six years later, he was under the management of the Currency & Commodities division of Goldman till 1997. He was appointed as the Vice-Chairman of Goldman Sachs from 2002-2004 and was credited with the responsibility of FICC & Equities Division.
In the year 2006, Lloyd was successfully promoted to the CEO position of the company. He was probably the biggest paid officials on Wall Street. His performance was recorded securing around $9.5 billion of Goldman shares in the same year. The most important and highlighting phase of Lloyd’s career was his designation of being the CEO and Chairman of Sachs.
In 2009, Lloyd was named as the “Person of the Year” by Financial Times. He was listed in the #43 rank by Forbes in 2011 in the roster of Most Powerful People of the world. He transformed Goldman Sachs from an investment bank into a bank holding company, thereby, placing it under the respected regulatory platform of the Federal Reserve and giving its complete access to Fed Credit.
Floyd was the ”Most Outrageous CEO” of 2009 by the American Business Magazine. Blankfein’s leadership was his own creation and he had an intense focus on exponential value creation. On15th March 2018, he issued an internal memo advocating complete gender parity among its workforce. He stated that inside his bank, all men and women are paid equally, given the same performance. This is how Goldman Sachs stands against the underrepresentation of women both in levels of magnitude and seniority.
According to the Financial Times, an estimated value of $22.3 million was earned by Blankfein in 2016. The 12-year run at the steps of Goldman has made Blankfein one of Wall Street’s longest-serving CEOs. He was an efficient banker who survived the standards of his organization during the financial crisis of 2007-2009.
During Lloyd’s tenure, Goldman’s shares had increased to 84%. Blankfein has always played a prominent role during times of any financial crisis because he always defended the firm’s use of mortgage-mort securities.
Goldman Sachs Group Inc. still continues to grow its local franchise as a trusted advisor, financier and investor of India Inc. Blankfein and other employees of Goldman Sachs have been huge contributors for Barack Obama, Hilary Clinton and other Democratic candidates.