Latest Interviews

A Conversation with David Solomon - Goldman Sachs 2020 Investor Day

David Solomon, Julian Wellesley, Brennan, Mike, Kiana Wilson, Doug, Christian Bolu, Glenn, Betsy, Devin, Steve, John, Gerard Cassidy, Matt O'Connor, Jeff Hart

Goldman Sachs is executing a strategic pivot to diversify its Global Markets client base and expand Consumer and Wealth Management operations, specifically targeting a $1.3 billion expense reduction while simultaneously building toward $125 billion in deposits. CEO David Solomon and leadership team emphasized a "One Goldman Sachs" ethos to break internal silos, with management deferring specific payout ratios in favor of a CET1 target of 13% to 13.5% to fund accretive growth. The firm projects a three-to-four-year J-curve for new lending and transaction banking initiatives, planning to report progress against these capital allocation and efficiency milestones on an annual basis rather than quarterly.

Innovation - Goldman Sachs 2020 Investor Day

Marco Argenti, Stephanie Cohen, David

Marco Argenti, former co-CIO of Goldman Sachs, leads a technology transformation designed to evolve the firm into a "vertical cloud" provider by prioritizing modular APIs and externalizing services like Marquee and Apple Card. Chief Strategy Officer Stephanie Cohen reinforces this strategy by shifting engineering focus toward differentiated capabilities, resulting in a dynamic framework that combines buying, building, partnering, and investing to capture a $60 billion retail deposit base and expand quantitative trading volumes through external broker-dealers. This approach leverages Goldman Sachs' heritage in equity markets and deep pre-IPO relationships to create a self-reinforcing platform that enables developers to embed financial services directly into client workflows while generating durable, fee-based revenue.

International Strategy - Goldman Sachs 2020 Investor Day

Richard Nutter

Goldman Sachs International CEO Richard Nutter detailed a five-decade strategy that expanded the firm's international footprint to over 40% of total revenue, supported by a diverse leadership team of 80 nationalities and the cross-border "One Goldman Sachs" model. The firm achieved market leadership in China and global M&A while driving growth in underpenetrated regions like South Africa and Europe through specific launches in fixed income, digital banking, and alternative investments. Looking ahead, Goldman plans to secure full ownership of its China joint venture, expand its international private wealth advisory force by 50%, and target $100 billion in new fundraising to capitalize on projected revenue pools.

Consumer & Wealth Management - Goldman Sachs 2020 Investor Day

Eric Lane

Goldman Sachs is executing a "Realign to Focus on Individuals" strategy to restructure its consumer and wealth management division, leveraging a technology-enabled platform to serve Ultra-High Net Worth, High Net Worth, and Mass Affluent segments across $2.3 trillion in client assets. The firm integrates its flagship Private Wealth Management unit with the former United Capital and Advisors' Capital Organization platforms to drive revenue from $5 billion toward long-term targets of $700 million in pre-tax income and $125 billion in deposits. This approach aims to capture significant global market share by expanding international advisor bases, increasing lending penetration, and deploying a fully digital mass affluent bank through the Marcus brand.

Asset Management - Goldman Sachs 2020 Investor Day

Julian, Tim O'Neill, John

Goldman Sachs executives Julian and Tim O'Neill presented an overview of the firm's $2.3 trillion asset management platform, highlighting its global multi-line capabilities and consistent investment track record across diverse strategies. The company outlined a five-year growth target of $350 billion in net organic assets while pivoting its balance sheet toward less capital-intensive credit investments to unlock $4 billion in capital efficiency. This strategic realignment aims to generate an incremental $1.6 billion in annual management fees, ultimately delivering a more durable revenue profile and improved return on equity.

Global Markets - Goldman Sachs 2020 Investor Day

Jim Esposito, Ashok Varadhan, Mark Nachman

Under the leadership of Jim Esposito and Ashok Varadhan, Goldman Sachs' Global Markets division is executing a strategic pivot to become the preeminent global franchise by leveraging high-barrier-to-entry scale and regulatory advantages. The firm is accelerating this transformation through technology-driven automation, the expansion of its Marquee platform, and a shift toward lower-volatility financing activities that have already captured 30% of revenues. By systematically closing over 1,000 client gaps and reducing operating expenses by nearly $1 billion, the division projects to exceed an 11% return on tangible equity while narrowing its revenue gap with top-ranked peers.

Investment Banking - Goldman Sachs 2020 Investor Day

Greg Lemkaw, Dan Dees, John, David, Jim Esposito, Ashok Varadhan

Co-led by Greg Lemkau and Dan Dees, the investment bank reinforces its position as the global market leader in M&A and underwriting through a strategy targeting mid-cap growth, financial sponsors, and transaction banking. The firm leverages a vast network of over 10,000 clients and a culture of mentorship to drive record revenues, recently exemplified by landmark deals like the Spotify direct listing and the Fiat Chrysler-Peugeot merger. Looking toward 2025, leadership plans to expand coverage of $500M–$2B companies and launch a high-tech transaction banking platform to diversify revenue streams and achieve 1% global market share within five years.

Financial Roadmap - Goldman Sachs 2020 Investor Day

Stephen Scher

Goldman Sachs has outlined a three-year strategic plan targeting a Return on Equity exceeding 13% and an efficiency ratio of 60% by driving revenue growth, reducing the cost of funds, and implementing a $1.3 billion expense initiative. The firm aims to lower its funding costs by diversifying liabilities to reach a 50% deposit mix and will allocate capital toward high-return opportunities while returning excess value to shareholders through flexible buybacks and dividends. Under this framework, the Global Markets segment seeks to lift its ROE to 10% while new consumer and transaction banking initiatives are projected to reach break-even status within the medium-term horizon.

Executing Our Strategy - Goldman Sachs 2020 Investor Day

John Waldron

John Waldron, President and COO of Goldman Sachs, outlines a strategic mandate to drive operational excellence and global client engagement through a three-pillar approach of strengthening the core franchise, investing for growth, and enhancing efficiency. The firm targets a return on equity exceeding 10% over the next three years by expanding investment banking coverage, unifying its alternatives platform, and implementing $1.3 billion in cost savings while reallocating resources toward technology and talent mobility. This comprehensive roadmap includes structural changes such as increasing engineering budgets, launching the Apple Card, and scaling the "One Goldman Sachs" philosophy to break down silos across 100 key client relationships.

Strategic Roadmap and Goals - Goldman Sachs 2020 Investor Day

Goldman Sachs is advancing a strategic transformation through its "One Goldman Sachs" initiative, which unifies siloed franchises to deliver holistic client solutions while targeting a Return on Equity exceeding 13% over the next three years. The firm is capitalizing on the digital revolution and sustainability themes by launching a $750 billion financing target and expanding into adjacent sectors like transaction banking and digital consumer finance to drive durable revenue growth. Guided by core values of partnership and integrity, the leadership team leverages its global scale and top-tier talent to optimize operational efficiency and maintain a CET1 capital ratio between 13% and 13.5% while executing long-term growth plans.

Karlie Kloss, Model and Founder of Kode With Klossy

Karlie Kloss

Supermodel Karlie Kloss leveraged her early fashion success to pivot toward technology, founding the "Code with Klossy" scholarship program that has since taught over 2,500 girls in 25 U.S. cities to code. Expanding her influence beyond modeling, she now hosts *Project Runway* and uses her 8.5 million social media followers to advocate for women in leadership while mentoring the next generation of innovators. Her career trajectory, driven by a desire to bridge the gap between creative industries and technical education, emphasizes vulnerability and continuous learning to dismantle barriers for young women.

Steve Inskeep, NPR Host and Author of "Imperfect Union"

Steve Inskeep, Tanya Cushman, Steve Yensky

Journalist Steve Yensky discusses the enduring power of audio storytelling and the historical legacy of the Fremonts in his new book, *Imperfect Union*, which details how John Charles and Jessie Benton invented modern celebrity through the strategic use of the telegraph and newspapers during the 1856 presidential campaign. Yensky draws parallels between that 19th-century political realignment and contemporary demographic shifts while analyzing modern geopolitical tensions, such as the dangerous strategic calculations underlying U.S.-Iran relations and the 2020 killing of General Soleimani. The conversation concludes with reflections on the journalist's need for constant readiness in a chaotic news cycle and a critique of social media as a source of misinformation compared to established news apps.

David M. Rubenstein, The Carlyle Group Co-Founder and Author of "The American Story"

David M. Rubenstein

David Rubenstein, co-founder and executive chair of The Carlyle Group, recounts his transition from a legal career in public service to establishing a pioneering global private equity firm driven by the power of persuasion. Drawing parallels between historical figures like Abraham Lincoln and modern leadership challenges, Rubenstein emphasizes that effective leadership relies on oral communication, persuasive writing, and leading by example to navigate complex environments. He concludes by urging current and future generations to dedicate their careers to work they love while striving to leave their communities better than they found them.

Daniel Lubetzky, Founder and Executive Chairman of KIND Snacks

Daniel Lubetzky

Daniel Lubetzky leverages his childhood experience as a concentration camp survivor to forge a career that merges peacebuilding economics with the snack industry, founding PeaceWorks to foster Middle Eastern cooperation and Kind Bars to disrupt the market with transparent nutrition. His entrepreneurial journey, shaped by early retail setbacks and a rigorous focus on consumer demand, established a corporate culture that extends equity to all employees and funds the Kind Foundation's Empatico platform to cultivate global empathy among children. Through high-stakes roles on "Shark Tank," Lubetzky continues to apply these principles of shared interest and resilience, utilizing his real investment capital to mentor entrepreneurs while scaling his dual mission of kindness and economic integration.

Paul Lindley OBE, Founder of Ella’s Kitchen

Paul Lindley OBE, Natasha Pope

Paul Lindley founded Ella's Kitchen in 2006 by applying his Nickelodeon experience to create a $100 million global baby food brand that prioritizes health over profit, eventually transitioning the company into a UK-certified B Corporation to legally embed stakeholder values. After funding the venture through personal mortgage remortgaging and securing an initial deal with Sainsbury's, Lindley sold the business while mandating its adherence to environmental and ethical standards that outpace traditional shareholder primacy. Today, the enterprise serves as a case study for how purpose-driven leadership and "childlike" internal reward systems can challenge short-term economic metrics and influence future corporate structures.