Cancer-hit Goldman Sachs boss to work on
Lloyd Blankfein, chief executive officer of Goldman Sachs, said he has a "highly curable" form of lymphoma and will undergo chemotherapy over the next several months.
"My doctors have advised me that during the treatment, I will be able to work substantially as normal, leading the firm," Blankfein (61) said yesterday in a statement. "My doctors' and my own expectation is that I will be cured."
While the statement didn't give details about Mr Blankfein's form of lymphoma, there are several types of the cancer, which begins in the body's immune system. One of the most curable is Hodgkin's lymphoma, which strikes about 5,000 men in the US each year. Treatment has improved substantially in the past 50 years, with almost 90pc of patients surviving for at least five years. The most common form is non-Hodgkin's lymphoma, a more lethal type.
Mr Blankfein said he underwent tests late this summer after not feeling well and a biopsy last week confirmed lymphoma. He received the final diagnosis on Monday and notified the banks' board the same day at around 4 pm, a person familiar with the matter said.
Mr Blankfein, a Brooklyn native and Harvard graduate who rose through the firm's currency and commodity trading unit, took over as ceo when Henry Paulson left to become US Treasury Secretary in 2006. He led his firm through the 2008 financial crisis in better shape than many rivals, allowing it to bounce back quicker and post record profit in 2009. (Bloomberg)