The top executive of Goldman Sachs, one of the most powerful investment banks in the world, revealed Tuesday that he has cancer.
Lloyd Blankfein, the longtime CEO of Goldman Sachs and its largest individual shareholder, informed employees and shareholders that he has a "highly curable" form of lymphoma, a type of cancer that affects the immune system. He intends to continue running the firm, but will cut back on his travel commitments in the coming months as he undergoes chemotherapy.
"My treatment plan will include chemotherapy over the next several months in New York. My doctors have advised me that during the treatment, I will be able to work substantially as normal, leading the firm. I will, however, reduce some of my previously planned travel during the treatment period," Blankfein wrote in a memo. "I have discussed this approach with our Board of Directors and they are supportive."
Blankfein, 61, rose from nothing to become one of the leading figures in the finance world. He grew up in the housing projects of Brooklyn, New York, but excelled in school earning the title of valedictorian and a ticket to Harvard. At first, he dabbled in law, but always had his eyes set on finance -- and Goldman Sachs in particular.
He joined Goldman Sachs in the early 1980s by way of an acquisition and rose up through the ranks. Blankfein has been CEO of Goldman for nearly a decade, presiding over a surge in stock price that recently made him a billionaire, but also representing the firm through the worst of the public's outrage during the financial crisis of 2008-2009.
Whoa. https://t.co/AMG5CKpWJE— Downtown Josh Brown (@ReformedBroker) September 22, 2015
Thoughts and prayers to Lloyd Blankfein for a speedy recovery. Never like to see news like this. $GS— Paul R. La Monica (@LaMonicaBuzz) September 22, 2015
Wishing Lloyd Blankfein a speedy recovery. $GS http://t.co/EWZ6jmMnVO— Kayla Tausche (@kaylatausche) September 22, 2015
Jamie Dimon, the CEO of J.P. Morgan Chase, was diagnosed with throat cancer last summer and was said to be cancer free by the end of the year. Like Blankfein, he opted to work throughout his treatment.
JUST IN: JPMorgan's Dimon wishes his friend Lloyd Blankfein a "fast and full recovery" from lymphoma . pic.twitter.com/s1mVwWVsGc— CNBC Now (@CNBCnow) September 22, 2015
Shares of Goldman Sachs were down about 1.5% in early trading Tuesday following the news.