Almost 4,000 analysts at Goldman Sachs (GS.N.) listened to Chief Executive Officer David Solomon and his predecessor offer career guidance. Junior bankers also competed for awards that would be donated to charitable organizations.
Solomon interviewed Lloyd Blankfein, the company’s former CEO, who resigned in 2018. The discussion occurred in front of a group of junior workers and senior partners in the auditorium of the company’s New York headquarters, filled with laughter and smiles.
The current CEO referred to Winston Churchill’s charitable outlook in their remarks. According to the former CEO, studying history helped him better understand the ebbs and flows of the economy.
Blankfein stated that “there are cycles to everything” and that “we’re in a cycle right now.” “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,” remarked the politician.
While the analysts were giving their presentations, Dan Dees, the co-head of global banking and markets at the bank, took notes. Blankfein announced the victor.
After a convincing presentation by four analysts based in the London office of Goldman Sachs, the first-place reward of $250,000 was given to TalkingPoints, a charitable organization focusing on education.
Following attending a dinner in New York for retiring partners the day before, Solomon and Blankfein addressed the younger staff the day following that event.
To ease worries over remuneration, the company’s CEO and senior executives have held meetings with small groups of partners to outline the company’s strategy to refocus on the solid global banking and markets sector while growing in asset management.
Solomon fought against a series of news pieces in September that questioned his leadership and strategy. These publications included detractors, including current and former workers, who were critical of Solomon’s work.
In an interview given at the time, he stated that it was “not fun” to suffer personal assaults and that he did not recognize the caricature that was drawn of him in the press. This statement was given in response to a question posed by CNBC.