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. 

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