Goldman Sachs president David Solomon says there is no timeline for CEO succession at firm

Goldman Sachs’ David Solomon said there was no timeline for when current chief executive Lloyd Blankfein may step down and he will take over.

“No timeline … the board has its process. And the board will work through its process. Succession will occur when it’s the right time for succession to occur,” he told CNBC’s David Faber on “Squawk Alley” Monday from the Milken Institute Global Conference.

The bank executive is also optimistic over the mergers and acquisitions deal-making environment for the rest of 2018.

“CEO confidence is pretty high. Correlated growth around the world is continuing at a reasonable pace. And so there is a good amount of activity that’s been building,” he said. “Looking at the indicators that we can see, I’d expect to see a relatively robust deal-making environment continue throughout the year.”

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