The Goldman Sachs Group, Inc. (NYSE:GS) shares are trading lower premarket Tuesday. On Monday, the company’s CEO, David Solomon, reportedly stated that trading revenue will likely fall by 10% in the third quarter due to sluggish conditions last month.
However, Solomon noted that investment banking is improving, although activity from financial sponsors hasn’t rebounded as expected. He remains optimistic that private equity-led deals will recover by the end of this year and into 2025, reported Reuters.
According to Solomon, Goldman Sachs is narrowing its focus on the consumer business. The CEO highlighted the bank’s sale of loans to ...
