Lloyd Blankfein is preparing to step down as Goldman Sachs's chief executive as soon as the end of the year, The Wall Street Journal reports, capping a more than 12-year run that would make him one of the longest-serving bosses on Wall Street.

Goldman is likely to follow an announcement of Blankfein’s departure with a quick transfer of power and is not looking beyond Goldman’s two co-presidents, Harvey Schwartz and David Solomon, to replace him, people familiar with the matter said.