Goldman CEO and predecessor Blankfein talk careers as analysts compete

NEW YORK, Nov 14 (Reuters) – Goldman Sachs (GS.N) Chief Executive Officer David Solomon and his predecessor gave profession recommendation to about 4,000 analysts as junior bankers pitched for grants to be given to charity on Tuesday.

Solomon interviewed former CEO Lloyd Blankfein, who passed over the reins in 2018, for an target audience of junior workers and senior companions that drew laughter and smiles within the auditorium at its New York headquarters.

The present CEO invoked Winston Churchill’s philosophy on giving. The former CEO stated learning historical past helped him to higher perceive financial ebbs and flows.

“There are cycles to everything – we’re in a cycle now,” Blankfein stated. “So all of you people feel underused now, get a good night’s sleep, because next year you’re going to be working double time,” he stated.

Dan Dees, the financial institution’s co-head of worldwide banking and markets, jotted down notes as the analysts introduced. Blankfein introduced the winner.

Goldman companions awarded the $250,000 first-place prize to TalkingPoints, an training nonprofit, after a a hit pitch from 4 analysts from its London administrative center.

Solomon and Blankfein addressed the junior workers an afternoon when they attended a dinner for retired companions in New York.

The CEO and senior executives have met with small teams of companions to speak about the corporate’s technique to refocus at the powerhouse world banking and markets department, whilst rising in asset control, partially to allay issues about reimbursement.

In September, Solomon driven again in opposition to a sequence of press articles bringing up critics – together with present and former workers – who wondered his management and technique.

He informed CNBC in an interview on the time it was once “not fun” to stand non-public assaults, and stated he didn’t acknowledge the cartoon that was once painted of him within the press.

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Lananh Nguyen is the U.S. finance editor at Reuters in New York, main protection of U.S. banks. She joined Reuters in 2022 after reporting on Wall Street at The New York Times. Lananh spent greater than a decade at Bloomberg News in New York and London, the place she wrote widely about banking and monetary markets, and she up to now labored at Dow Jones Newswires/The Wall Street Journal. Lananh holds a B.A. in political science from Tufts University and an M.Sc. in finance and financial coverage from the University of London.

Saeed Azhar is a Reuters monetary journalist and a part of the U.S. banking crew, which covers Wall Street’s largest banks. He specializes in Goldman Sachs and Bank of America, and additionally writes about regional banks. Before transferring to New York in July 2022, he led the finance crew within the Middle East from Dubai, and additionally labored in Singapore, masking Southeast Asia finance.
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