Is an outsider the ideal CEO to run Goldman Sachs?

When it comes to running a massive commercial bank, you can't argue with tapping a manager with a lot of consumer banking experience. Brian Moynihan (Brian Moynihan news) and Jamie Dimon (Jamie Dimon news) are faring well as CEOs of Bank of America and JPMorgan Chase. Vikram Pandit (Vikram Pandit news), who ran a hedge fund before taking over as CEO of Citigroup, is faring less well.

When it comes to the top investment banks, what type of manager is most suited to the job? We've noted that traders took the upper hand in the 2000s. But the results have been dismal. Jimmy Cayne at Bear Stearns and Dick Fuld at Lehman Brothers were spectacular busts. Lloyd Blankfein (Lloyd Blankfein news) of Goldman Sachs has stumbled as well.

So does that mean investment bankers ought to be put in charge? Breakingviews says, maybe not. Perhaps the ideal CEO would be an uber-manager, neither an investment banker nor a trader, but rather someone with experience at running large complex organizations. It makes sense.

This is important in the context of Goldman Sachs (GS). There's a strong chance the board is pondering the post-Blankfein era. Is it at all possible the board would name an outsider to run the historic bank?

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