• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it

2

'I literally was crying last night because I’m nervous about what I’m going to find out': a record 51% of Americans aren't 'cost secure' on health

3

Nvidia CEO Jensen Huang says electricians and plumbers will be needed by the hundreds of thousands in the new working world

1

Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it

2

'I literally was crying last night because I’m nervous about what I’m going to find out': a record 51% of Americans aren't 'cost secure' on health

3

Nvidia CEO Jensen Huang says electricians and plumbers will be needed by the hundreds of thousands in the new working world
Finance

Here’s What Goldman Sachs CEO Lloyd Blankfein Told Employees About Trump’s Win

Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
November 11, 2016, 12:29 PM ET
Goldman Sachs’ chairman and CEO, Lloyd Blankfein, at Fortune’s Most Powerful Women Summit on Tuesday, Oct. 18, 2016.
Goldman Sachs’ chairman and CEO, Lloyd Blankfein, at Fortune’s Most Powerful Women Summit on Oct. 18, 2016.Photograph by Patrick T. Fallon—Bloomberg via Getty Images
Add Fortune on Google for similar content.

Here’s Lloyd Bankfein’s bottom line on Donald Trump: Keep an optimistic mind.

That was the message the Goldman Sachs (GS) CEO sent out to employees Thursday via voicemail, based on a transcript seen by Fortune.

Prior to Trump’s surprise win Tuesday night, most of Wall Street had predicted Hillary Clinton would take the White House and act as a continuation of President Barack Obama’s administration. But now that the opposite has come to pass, CEOs and executives of large companies and banks are now trying to explain what Trump’s presidency might mean for their firms.

(Related: Read the Email Jamie Dimon Sent Out to J.P. Morgan Chase Employees on Trump Win)

Blankfein in his Thursday voicemail noted that while he can’t be certain if the election will be “good or bad in the long-run,” Trump’s proposed plan to lower taxes and increase spending could be a boon for economic growth.

 

Separately, Blankfein also appeared at the New York Times’ Dealbook conference on Thursday, saying that Trump’s policies are “asset friendly and market friendly.” The comments come despite the fact that Blankfein was negatively featured in one of the final commercials of the Trump campaign.

Despite that investors, though, are already anticipating that president-elect will be friendlier to the financial sector. Shares of Goldman Sachs have rallied nearly 11% as of noon Friday since election day, while an exchange-traded fund tracking the industry(XLF) rose 7.4% in the same period.

Here is Blankfein’s transcript, which was sent to Goldman Sachs’ team around the world:

This is Lloyd.

I’d like to take a moment to share some thoughts with you in the aftermath of the US election. The results of the election have surprised many of us, similar to what we saw earlier this year in the UK Brexit vote. The political cycle has unquestionably been divisive – not only in the US and in the UK, but also in other parts of the world.

I know that some of you may feel uncertain, or perhaps even disheartened or uncomfortable with the outcomes of these political cycles, while others of you feel just the opposite.

I can’t predict with certainty whether the outcomes of recent political processes we’ve seen will be good or bad in the long-run. We can aspire to predict the future, but that is beyond our reach, as recent events have shown. Instead, it is a more realistic ambition to be clear-minded about what is occurring, and to contingency plan for all scenarios. This helps us to risk manage our firm, and more importantly, it enables us to assist our clients as they adapt to changing circumstances.

The election results in the US show democracy at work. This means respect for the will of the people and an orderly transition of power. And in the long-run, this, in and of itself, is a stabilizing process. It also means change, which isn’t necessarily a bad thing. Change is often the agent of progress in ways we can’t always readily see in the early days.

In the US, for example, the president-elect’s commitment to infrastructure spending, government reform and tax reform – among other things – will be good for growth and, therefore, will be good for our clients and for our firm.

Amidst the changes we expect to unfold, you should stay close to our clients. Your ideas, insights and advice will prove valuable to them as circumstances evolve in the weeks and months ahead.

Separately, while there has been tremendous focus on the US election, we, Goldman Sachs, had an election of our own. As we do every two years, we selected a new class of partners, which we announced today. In many ways, the new class reflects the strength of the firm and the diverse experience and skills of an emerging class of new leaders.

So as we head into the home stretch of 2016 with a number of divisive political contests settled, with an improving global economy, and with a firm that is well funded with both financial and human capital, I remain optimistic about the future, the world’s and our firm’s.

About the Author
Lucinda Shen
By Lucinda Shen
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

A new trade war may be brewing. This time, Europe is taking a page from Trump’s playbook — ‘We no longer live in a world of pink ponies and rainbows’
EconomyTariffs
A new trade war may be brewing. This time, Europe is taking a page from Trump’s playbook — ‘We no longer live in a world of pink ponies and rainbows’
By Jason MaJune 20, 2026
7 hours ago
Shipping companies will decide when the Strait of Hormuz is truly open—not the U.S. or Iran—and the latest deal is already sowing confusion
EnergyIran
Shipping companies will decide when the Strait of Hormuz is truly open—not the U.S. or Iran—and the latest deal is already sowing confusion
By Jason MaJune 20, 2026
9 hours ago
Trump threatens to charge U.S. tolls in Strait of Hormuz for ‘services rendered as the Guardian Angel to the countries of the Middle East’
EnergyDonald Trump
Trump threatens to charge U.S. tolls in Strait of Hormuz for ‘services rendered as the Guardian Angel to the countries of the Middle East’
By Kareem Chehayeb, Bassem Mroue, Munir Ahmed and The Associated PressJune 20, 2026
9 hours ago
Who needs rate cuts? Even the Fed’s new chair admits companies are easily raising capital on financial markets amid epic stock and debt binge
BankingStock
Who needs rate cuts? Even the Fed’s new chair admits companies are easily raising capital on financial markets amid epic stock and debt binge
By Jason MaJune 20, 2026
10 hours ago
t
PoliticsWhite House
Americans on Trump and Iran: 65% disapprove, just like his job (dis)approval
By Linley Sanders, Amelia Thomson-Deveaux and The Associated PressJune 20, 2026
12 hours ago
t
Personal Financestudent loans and debt
Trump’s student loan rate cut excludes most of the 9 million borrowers in default
By Alia Wong, Collin Binkley and The Associated PressJune 20, 2026
12 hours ago

Most Popular

Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
Environment
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
By Sydney LakeJune 19, 2026
2 days ago
'I literally was crying last night because I’m nervous about what I’m going to find out': a record 51% of Americans aren't 'cost secure' on health
Health
'I literally was crying last night because I’m nervous about what I’m going to find out': a record 51% of Americans aren't 'cost secure' on health
By Ali Swenson, Amelia Thomson-Deveaux and The Associated PressJune 20, 2026
12 hours ago
Nvidia CEO Jensen Huang says electricians and plumbers will be needed by the hundreds of thousands in the new working world
Success
Nvidia CEO Jensen Huang says electricians and plumbers will be needed by the hundreds of thousands in the new working world
By Preston ForeJune 20, 2026
18 hours ago
The Great Recession’s missing children are finally bringing college’s financial crisis into sight. Welcome to the ‘enrollment volatility’ era
Economy
The Great Recession’s missing children are finally bringing college’s financial crisis into sight. Welcome to the ‘enrollment volatility’ era
By Tristan BoveJune 20, 2026
21 hours ago
Microsoft boss Steve Ballmer publicly dismissed Chrome as a 'rounding error'—but Google’s CEO says he used the jab as fuel to win the browser-wars
Success
Microsoft boss Steve Ballmer publicly dismissed Chrome as a 'rounding error'—but Google’s CEO says he used the jab as fuel to win the browser-wars
By Preston ForeJune 17, 2026
4 days ago
Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring for a recent role: ‘Nobody on that list gets that job’
Success
Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring for a recent role: ‘Nobody on that list gets that job’
By Orianna Rosa RoyleJune 18, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.