Reuters - Goldman dealmakers more than help out

Goldman Crowned

Goldman Sachs turned in a better-than-expected profit during David Solomon’s first quarter at the helm, helped by dealmakers in the division the new chief executive once oversaw.

Reuters reports that a 56% jump in M&A fees as well as higher equities trading revenue during a volatile quarter for stocks helped offset another decline in bond trading, a business whose structural issues have forced Goldman to rethink its overall business model.

Using a plan Solomon co-developed in 2017, Goldman Sachs is trying to generate $5 billion (£3.9 billion) in additional annual revenue by growing its consumer operation, wooing new institutional customers and convincing existing clients to do more business with the bank.

Hit the link below to access the complete Reuters article:

Goldman dealmakers shine in Solomon's maiden quarter

Goldman Sachs CEO apologises for ex-banker's role in 1MDB scandal

 

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