How John Waldron became the frontrunner to run Goldman Sachs.

U.S. stock indexes rose on lower-than-expected inflation data, with the Nasdaq and S&P 500 up 1.1% and 0.6% respectively, while the Dow remained flat. Alphabet, Apple, Nvidia, Microsoft, and Amazon drove the Nasdaq's gains. Core PCE inflation rose 0.2% in August, below forecasts, pushing expected Fed rate hikes to December.

Goldman Sachs' board discussed a potential leadership transition, possibly elevating president John Waldron to CEO as early as next year, with David Solomon becoming executive chairman. The bank reported record Q2 revenue of $20.3B and EPS of $20.98, with shares up over 300% since Solomon's 2018 appointment. Solomon's influence and Waldron's retention package are key factors in the succession plan.

Goldman Sachs is reportedly in talks to acquire Palmer Square Capital Management, a US$37bn asset manager focused on collateralized loan obligations (CLOs). The deal could cost around US$1bn and would significantly boost Goldman's CLO portfolio, aligning it with peers like Apollo and Blackstone. Both firms declined to comment. Palmer Square manages US$27bn in CLOs and generates approximately US$200m in annual revenue, with potential Ebitda of US$100m.

Goldman Sachs (GS) may name John Waldron as CEO as soon as next year, succeeding David Solomon. Waldron, currently COO, would take over a firm with strong recent performance, including 42.5% revenue growth and 78% earnings growth in the latest quarter. The transition could prompt senior banker departures, with rivals likely to approach those passed over. Goldman trades at 14x earnings and 2.52x book value. Hedge fund ownership of GS has increased, with 92 funds holding a $11.2B stake in Q2 2026.

Goldman Sachs (GS) is reportedly preparing for a CEO succession, with David Solomon expected to step down and President John Waldron as the likely successor. The transition may impact the firm's focus on fee-heavy advisory, financing, and asset management, as well as its AI and efficiency initiatives.

Goldman Sachs is opening its $100 billion FTXX Treasury fund to institutional crypto firms, allowing them to earn yield on idle cash. The fund is not tokenized, unlike similar offerings from BlackRock and Franklin Templeton. Participating firms include Galaxy, Wintermute, Falcon X, Crypto.com, and Fireblocks. This move further blends traditional finance with the crypto industry.