David Solomon News

By Tatiana Bautzer and Saeed Azhar

By Megan Davies

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The heads of Wall Street’s biggest banks used an appearance on Capitol Hill to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated, warning that the proposals could negatively impact the economy at a time ...

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As this profile of Marc Nachmann says, Goldman Sachs CEO David Solomon has “pinned his hopes on … a newly merged asset and wealth management division” run by Nachmann, and “his job security may depend on it”.  The article also correctly summarises the general view of the Street when it comes to Goldman’s ambitions to roughly triple divisional profits from their 2022 level, which could be summarised as “pretty sceptical”.

By Kane Wu and Scott Murdoch

how to motivate his employees—and himself. Schemes should be self-managed with the junior party taking the lead in arranging discussions which are always confidential. It is best to let employees choose the person with whom they would most like to discuss their career trajectory, no matter their position on the corporate ladder.

Saudi Arabia aimed at deal brokering, as a violent conflict between Israel and Hamas that has killed thousands of people unfolds. The annual event is typically used by attendees as an opportunity to build relationships with some of Saudi Arabia's biggest companies and its $778-billion sovereign wealth fund, drawn by the promise of deals as the kingdom embarks on an ambitious reform plan to wean its economy off oil. But an escalation between Islamist group Hamas and Israel into a broader conflict overshadowed the event dubbed «Davos in the Desert», a nod to the annual gathering of world leaders and corporate bosses in the Swiss Alps. Geopolitical tensions heightened by the Middle East conflict pose the biggest threat to the world economy, World Bank President Ajay Banga said. «There is so much going on in the world and geopolitics in the wars that you're seeing and what just happened recently in Israel and Gaza. At the end of the day, when you put all this together, I think the impact on economic development is even more serious,» Banga said. Although the globe's top financiers dwelt little on the conflict, speaking about topics such as artificial intelligence, the economic fallout of war combined with record debts as rates rise created a bleak backdrop. «There's no question if these things are not resolved, it probably means more global terrorism, which means more insecurity, which means society is going to be fearful… and… we see contractions in our economies,» BlackRock Chairman and CEO Laurence Fink said. Fink was flanked on a panel at the Future Investment Initiative (FII) conference by bank CEOs including Goldman Sachs' David Solomon, JPMorgan's Jamie Dimon and Citi's Jane Fraser.

Get ready, advisors! Goldman Sachs is stepping back into the RIA space.  

Goldman Sachs currently employs 45,900 people. In the past 12 months, it's cut 3,200 jobs. This has not, however, prevented all kinds of people from wanting to work there. 

Now that all the big investment banks (JPMorgan, Goldman, Citi, Bank of America and Morgan Stanley) have reported their third quarter results, there's more clarity on the performance of investment bankers working in M&A and debt and equitycapital markets. 

symphony is over! For David Solomon, CEO by day and DJ by night, the music has stopped, literally. Solomon, the Chief Executive Officer of Goldman Sachs, doubled up as a high-profile party DJ in his time away from the boardroom. But that musical soiree is now over for this corner-office occupant after the bank's board showed concerns at the adverse attention that his non-work stint was drawing.

New York | Goldman Sachs posted a second straight quarter of real estate write-downs and a continued dealmaking slump, leaving the investment bank’s profitability at about half the level it’s targeting.

By Saeed Azhar and Niket Nishant

Goldman Sachs saw its third quarter earnings fall 33%, with the investment bank seeing muted market conditions that allowed fewer deals and market making opportunities for the firm

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Goldman Sachs is in advanced negotiations to divest its specialty lending unit, GreenSky, to a consortium of investment heavyweights, marking a significant pivot away from its brief foray into consumer lending.