A Hamilton College alumnus has been named CEO and Chairman of Goldman Sachs.

1984 Hamilton graduate and college trustee David Solomon will succeed Lloyd Blankfein as chairman and chief executive officer.

Solomon was appointed president and co-chief operating officer at Goldman Sachs in 2016.

“I am honored and humbled to have the opportunity to lead Goldman Sachs and I appreciate the confidence Lloyd and the board of directors have placed in me,” Solomon said. “I am excited about the opportunities for growth and know how vital our culture of client service and teamwork is to our success.”

Blankfein will step down as chief executive officer on September 30th and will retire from the firm and as chairman of the board at the end of the year

Solomon has been a Hamilton College charter trustee since 2005.