Reuters reports that the event is a key step for Goldman as it tries to convince clients to turn to it for debt financing rather than bigger competitors like JPMorgan, people familiar with the matter told Reuters.
Goldman is searching for other sources of profit as strict regulations have pressured in its once lucrative bond trading unit and volatility has essentially frozen the market for initial public offerings.
Conferences are important for banks to drum up business, because they get clients and bankers in the same place to network, socialize and discuss potential deals. Goldman's conference will be held at an oceanfront resort in Rancho Palos Verdes, California, and features venture capitalist Steve Jurvetson and CNBC television host Marcus Lemonis as keynote speakers.
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