Investment bank Goldman Sachs has confirmed that its next chief executive will be David Solomon, currently its chief operating officer.
He will take over from Lloyd Blankfein, who is stepping down after 12 years in the post.
That news came on the same day the bank reported a 44% rise in profits in the second quarter, to $2.35bn.
Unusually for a bank boss, Mr Solomon is into electronic dance music and DJs under the name D-Sol.
He has been photographed with musicians such as Sean “Diddy” Combs and is known for his love of parties.
But his social media account suggests he is happier behind the decks than on the dance floor – with shots of him performing at events in Los Angeles, Miami and the Bahamas.
Reports suggest he is also an avid wine collector, and takes vintages from his own cellar to restaurants rather than relying on what is on offer.
In his retirement announcement, Mr Blankfein, who has worked at Goldman Sachs for 36 years, said: “When I’ve been asked about succession in the past, it’s always been hard for me to imagine leaving. When times are tougher, you can’t leave. And, when times are better, you don’t want to leave.”
He also thanked his wife Laura and their three children, saying: “It may be hard for some of you to believe, but I’m told that sometimes I’m not the easiest person to live with.
“I could not have gone through the ups and downs of the last 12 years without their patience, love and constant support.”
Mr Blankfein will remain as chairman until the end of the year when Mr Solomon will succeed in both roles.
Following his retirement, Mr Blankfein will be senior chairman of the firm.