What is Goldman Sachs?
It’s a question that chief executive David Solomon has fielded more often than usual in the last 12 months, not least because late-2020 vintage Goldman is starting to look subtly different from the firm of even a few years before.
But he also has a fairly simple answer: Goldman Sachs is a bank. Gone are the days of differentiation between investment banks and other banks, he argues. In today’s world, he told the audience at a Credit Suisse conference back in February, “there are just banks.
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