Goldman Sachs (GS) CEO Lloyd Blankfein is retiring. President David Solomon will become CEO on October 1.

The move, which comes after a 12-year tenure for Blankfein as CEO, is bound to fuel investor interest into the succession plans at other banks. 

Investors want to know that there's an heir apparent at some of these legacy institutions, according to Billy Huzar, a client investment specialist at J.P. Morgan Private Bank. 

Want exclusive investing insight from Jim Cramer? Get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!

More from Video

Micron's Earnings Day Move Has Major Implications

Micron's Earnings Day Move Has Major Implications

Striking Options: A Volatile December in Equities with Eyes on the Fed

Striking Options: A Volatile December in Equities with Eyes on the Fed

Federal Reserve to Raise Rates -- What to Listen for From Jay Powell

Federal Reserve to Raise Rates -- What to Listen for From Jay Powell

Uber vs. Lyft: The Tale of Two Ride-Hailing Companies Going Public in 2019

Uber vs. Lyft: The Tale of Two Ride-Hailing Companies Going Public in 2019

What New Investors Should Be Thinking About During Jerome Powell's Speech

What New Investors Should Be Thinking About During Jerome Powell's Speech