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Solomon was effectively last man standing after Gary Cohn departed last year to work for U.S. President Donald Trump. His appointment sparked a nearly 2 percent rally against a wider rise in banking stocks – although much of the momentum was also likely to have been triggered by second-quarter results showing a 19 percent rise in net revenues across all divisions.

«DJ D-Sol» in da House

Is Solomon the right man to revive Goldman's fortunes? At 56, he certainly doesn't represent a new generation – even if he spends every second weekend DJing as «DJ D-Sol». After joining the U.S. bank 19 years ago from rival Bear Stearns.

Investors shouldn't expect a big change in pay – U.S. investment banks are in rude health and can afford to pay top dollar to win new talent. Goldman's salary and bonus change purse stands at $3.47 billion, or 7 percent more than last year. This is all but certain to ensure Solomon the loyalty of his troops, one of whom told finews.com that «he is a really cool guy».

Full Bonus Purse

To be sure, Solomon won't be Blankfein reloaded: Solomon will almost certainly pivot the bank's strategy towards classic M&A banking as well as newer technology-led businesses.

«We're now building a digital consumer finance platform», Solomon said recently. «We think digital finance is at a very, very interesting pivot point. And we think we're in a position where we can be part of the disruption», Solomon said in May this year when questioned about the bank's strategy. The bank has digitized large parts of its monster trading operations, and pushed into retail banking for the first time with Marcus, a digital bank (a coy reference to Marcus Goldman, who founded the predecessor bank to Goldman Sachs in 1869).

God's Work?

Solomon doesn't have much choice but to veer from Blankfein's path: last year, he pledged $5 billion in revenue-bolstering measures. The new CEO will have little time for an elaborate victory lap: the plan is due in 2020.

Most would argue that the challenge he faces pale in comparison to the rocky ride his predecessor, who famously said that «if I slit my wrists people would probably cheer». But will he continue, as Blankfein rather unwisely said in 2009, to do God's work?

«Solomon is very well liked by a large number of people at the firm and will no doubt be good in this role», said one employee at the bank.