Evans to retire as Goldman Sachs vice chairman

Oct 21, 2013, 4:46 PM EDT

Goldman Sachs Vice Chairman J. Michael Evans, 56, will retire from his position at year-end, the bank said. Evans' departure from day-to-day operations (he will become an advisory senior director) leaves Chief Operating Officer Gary Cohn as favorite in the race to succeed Lloyd Blankfein as chief executive of Wall Street's biggest investment bank. Other candidates are said to include Chief Financial Officer Harvey Schwartz, investment banking co-head David Solomon and another vice-chairman, Michael Sherwood.