In a surprising turn of events, Goldman Sachs CEO David Solomon has decided to hang up his headphones as he steps down from his “second career” as DJ D-Sol. The decision comes as Solomon acknowledges the increasing media attention and public fascination with his musical pursuits, which have become a significant distraction from his responsibilities as the head of one of the world’s most prominent financial institutions, which is currently dealing with slumping profits.
The choice to step away from his DJ gig coincides with a series of reports in recent months regarding friction between Solomon and other high-ranking Goldman Sachs executives, with some of the criticism directly aimed at his time spent behind the decks. It has been a particularly challenging period for Goldman Sachs as of late, with profits declining continuously over the past nine quarters on a rolling 12-month basis. The company’s shares, under Solomon’s leadership, have experienced a 9% decline year-to-date, aligning with the broader struggles in the financial sector due to a downturn in dealmaking. However, this performance lags behind the 9% gain achieved by their competitor, JPMorgan Chase.
Solomon, who took over as the CEO of Goldman Sachs in 2018, made headlines worldwide when it was revealed that he had been pursuing a secret passion for electronic dance music under the stage name DJ D-Sol. Solomon’s musical journey included performances at prestigious events and venues, from Ibiza‘s renowned Pacha nightclub to music festivals like Lollapalooza in Chicago. A pretty interesting “career” in the dance music industry for the corporate leader.
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