What will Goldman Sachs become? That is the question on Wall Street as the investment giant transitions leadership–and broadens its strategy. At the helm since late 2018: David Solomon, who has earned repute not just as a finance executive but as a DJ and an Instagram user. “I needed a more modern way to communicate with a workforce that is 75% millennial (and Gen Z),” Solomon explained in reference to his social media usage at the Milken Conference. This new public image makes sense as the bank forays into a new area: consumer banking. In past years, much of Goldman’s revenue came from its fixed income trading division. Now, as that division flags, the bank is seeking steadier revenue sources such as from deposits and a credit card partnership with Apple. A robust stock market and deal flow meanwhile boosted the bank’s businesses across the board, with its investment management division revenues rising 13% to $7 billion, and equities group up 15% to $7.6 billion.
Company Info
| CEO | David M. Solomon |
| CEO Title | Chairman & Chief Executive Officer |
| Sector | Financials |
| Industry | Commercial Banks |
| HQ Location | New York, N.Y. |
| Website | www.goldmansachs.com |
| Years on Fortune 500 List | 20 |
| Employees | 36,600 |
Key Financials (Last Fiscal Year)
| Revenues ($M) | $52,528 |
| Profits ($M) | $10,459 |
| Assets ($M) | $931,796 |
| Total Stockholder Equity ($M) | $90,185 |
Profit Ratios
| Profit as % of Revenues | 19.9% |
| Profits as % of Assets | 1.1% |
| Profits as % of Stockholder Equity | 11.6% |
Earnings Per Share (Last Fiscal Year)
| Earnings Per Share ($) | 2,527 |
| EPS % Change (from 2017) | 180.5% |
| EPS % Change (5 year annual rate) | 10.3% |
| EPS % Change (10 year annual rate) | 18.9% |
Total Return
| Total Return to Investors (2018) | -33.4% |
| Total Return to Investors (5 year, annualized) | 0.2% |
| Total Return to Investors (10 year, annualized) | 8.5% |
