For the first time in its 151-year history, the storied investment bank is opening its doors to investors and others for a day of presentations about its various business lines — and how it has been remaking itself.
Why it matters: Its new CEO, David M. Solomon, has been in his position just over a year, and under him the bank has been pivoting toward the mass market and making other strategic moves that could have a big effect on the evolution of modern banking.
What they're saying: “Our purpose is to advance sustainable economic growth and financial opportunity. We are proud advocates for capitalism,” Solomon told the crowd assembled in a theater-style auditorium.
- "We are taking real and significant steps to make Goldman Sachs more transparent and easier to understand," Solomon is quoted as saying before the presentation.
- "The firm believes that by growing and strengthening its existing market-leading businesses, diversifying the products and services offered, and operating more efficiently, Goldman Sachs is positioned to drive long-term growth and shareholder value," a news release said.
Editor's note: This is a developing story and will be updated.
