Goldman Sachs‘ announcement on Tuesday that David Solomon will replace Lloyd Blankfein as chief executive was expected. But when the actual change occurs on October 1 it will bring to an end the super-eventful 16-year period in which Blankfein reshaped the firm — not once but twice — while maintaining its preeminent role as one of the world’s foremost investment banks, even through the worst financial crisis since the 1930s.

Blankfein took over as fixed income commodities and currency chief in 2002 just as the three-year “tech-wreck” crisis was ending. Working with Hank Paulson, Goldman’s CEO at the time, Blankfein smoothly managed a massive expansion of the firm’s trading business, transforming Goldman from a cautious, client-oriented investment bank into a global trading colossus engaged with “counterparties” all over the world. By 2006, when Blankfein replaced Paulson as CEO, more than 70% of the firm’s profits were from trading.