A part-time DJ is in line to seize the helm at Goldman Sachs — and he’s already got the bank’s executives playing musical chairs.
David Solomon — who on top of holding the No. 2 spot at the Wall Street powerhouse does weekend music gigs under the stage name DJ D-Sol — is the driving force behind a surprise shakeup in the bank’s trading division, sources told The Post.
That’s despite the fact that Solomon isn’t expected to succeed Lloyd Blankfein as chief executive until at least later this year, insiders said. Solomon’s picks to run two top divisions have, in turn, left many worried about their jobs, according to sources.
Last week, Goldman announced that Pablo Salame, the 52-year-old vice chairman and global co-head of the $12 billion securities division, will “retire” next month — leaving Ashok Varadhan as its sole head. Isabelle Ealet, global co-head of the securities division, also is leaving, although that was expected, according to three sources.
“That’s David Solomon’s choice,” one source said of Varadhan’s surprise ascent.
Traders had widely expected Salame — a blunt Ecuador native who quickly rose to prominence after joining the bank in 1996 — to stay and take over the role rather than Varadhan, a trading prodigy who nevertheless has reportedly entertained leaving Goldman.
Insiders note that Salame was close to former co-president Harvey Schwartz, who abruptly left Goldman earlier this year after losing out to Solomon in a battle to succeed Blankfein. Had Schwartz prevailed, Salame probably would have, too, sources said.
With Salame’s exit, those who curried favor with him are now worried that they’ll be next to be shown the door. At Goldman, the success of traders and bankers can, along with their performance, be tied to the boss they’re aligned with during times of management change, sources said.