02:38:28 EDT Sun 12 May 2024
Enter Symbol
or Name
USA
CA



Goldman Sachs CDR (CAD Hedged)
Symbol GS
Shares Issued 400,000
Close 2023-08-11 C$ 17.38
Market Cap C$ 6,952,000
Recent Sedar Documents

Globe/NYT say Solomon steering Goldman in troubling way

2023-08-14 08:52 ET - In the News

The Globe and Mail reports in its Monday, Aug. 14, edition that it has been a slog for Goldman Sachs chief executive officer David Solomon. A New York Times dispatch to The Globe reports that Mr. Goldman is now in his fifth year as CEO. He is struggling to steer the bank through a humbling stretch that has brought intense focus on his management style. In July, Goldman reported a collapse in profits, the result of a misbegotten foray into consumer banking that the firm is unwinding. Goldman has had three rounds of layoffs over the past year. Its stock trails that of its peers. Senior Goldman partners, former executives and investors have expressed frustration with the bank's performance amid a turnaround plan that has yet to show results. It is an unusual indication of unrest at a firm where its 400 or so partners have long observed an informal keep-it-in-the-family rule. Questions have been raised about the future of Mr. Solomon's leadership. Even his own friends lament that his side gig as an amateur DJ has become a needless distraction. Mr. Solomon has also attracted criticism for jet-setting trips, including to private resorts owned by a company in which he has personally invested.

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