© Reuters. Former Goldman Sachs CEO Lloyd Blankfein and Goldman Sachs chairman and CEO David Solomon communicate collectively throughout Goldman Sachs analyst affect fund competitors at Goldman Sachs Headquarters in New York City, U.S., November 14, 2023. REUTERS/Brendan McDermid
By Lananh Nguyen and Saeed Azhar
NEW YORK (Reuters) – Goldman Sachs Chief Executive Officer David Solomon and his predecessor gave profession recommendation to about 4,000 analysts as junior bankers pitched for grants to be given to charity on Tuesday.
Solomon interviewed former CEO Lloyd Blankfein, who handed over the reins in 2018, for an viewers of junior staff and senior companions that drew laughter and smiles within the auditorium at its New York headquarters.
The present CEO invoked Winston Churchill’s philosophy on giving. The former CEO mentioned finding out historical past helped him to raised perceive financial ebbs and flows.
“There are cycles to everything – we’re in a cycle now,” Blankfein mentioned. “So all of you people feel underused now, get a good night’s sleep, because next year you’re going to be working double time,” he mentioned.
Dan Dees, the financial institution’s co-head of worldwide banking and markets, jotted down notes because the analysts offered. Blankfein introduced the winner.
Goldman companions awarded the $250,000 first-place prize to TalkingPoints, an schooling nonprofit, after a profitable pitch from 4 analysts from its London workplace.
Solomon and Blankfein addressed the junior staff a day after they attended a dinner for retired companions in New York.
The CEO and senior executives have met with small teams of companions to debate the corporate’s technique to refocus on the powerhouse international banking and markets division, whereas rising in asset administration, partly to allay issues about compensation.
In September, Solomon pushed again towards a sequence of press articles citing critics – together with present and former staff – who questioned his management and technique.
He advised CNBC in an interview on the time it was “not fun” to face private assaults, and mentioned he didn’t acknowledge the caricature that was painted of him within the press.