The great guessing game as to who will succeed Lloyd Blankfein as the next CEO of Goldman Sachs has re-ignited. We've maintained that Blankfein cannot leave until he can do so without media chatter that he was somehow pushed by regulatory controversy. His pride will not allow him to leave under such dubious circumstances. But how close are we to a suitable departure day?

We may be inching closer, as the fallout from the scathing senate report looks like it will end up being less severe than many assumed just a month ago. Which perhaps explains why the media speculation remains heavy. Bloomberg contributes an interesting profile of Gary Cohn, president and COO, who is never mentioned as a candidate to lead the firm.

"Cohn's biggest handicap may be the qualities that got him to the No. 2 spot at Goldman Sachs, the colleagues say: An abrasive style, an appetite for risk and a long association with Blankfein, who also started at the company in metals. The two vacationed in the Mexican resort Cabo San Lucas before their 2006 promotions, sent their children to the same school and represent the shift from investment banking to trading, which now produces most of the revenue at the firm."

And how's this for an on-the-record quote from former Bear Stearns Asset Management CEO Richard Marin: Speaking of Cohn, "when you become arrogant, in a trading sense, you begin to think that everybody's a counterparty, not a customer, not a client. And as a counterparty, you're allowed to rip their face off."

My sense is that the board has already made clear that Cohn would not present enough of a break with the past, and that is what is sorely needed when the time comes, which may or may not be close.

For more:
- here's the quite interesting and lengthy Bloomberg profile

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