Goldman - The little guy on Wall Street

Baby Lloyd

Goldman Sachs CEO Lloyd Blankfein said he likes that his firm is the little guy on Wall Street.

Bloomberg News reports that a smaller balance sheet and fewer businesses provide 'the ability to adapt quickly', Blankfein wrote Friday in his annual letter to shareholders.  

He noted that the bank’s $856bn in assets is half the average size of its four largest U.S. peers and that Goldman employs less than one-fifth as many people.

Bigger rivals including JPMorgan have touted the advantages of large balance sheets and myriad units that share costs and provide additional revenue to each other.

To access the complete Bloomberg News article hit the link below:

Blankfein Touts Benefits of Goldman Being Smaller Than Rivals

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