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.
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Blankfein Touts Benefits of Goldman Being Smaller Than Rivals
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