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Opinion

Goldman Sachs: A grand day out

Excitement at the prospect of Goldman’s first investor day is mounting.

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The invitation-only event, which will take place on January 29, has become the hottest ticket in town, and anticipation was such that even the bank was trying to manage expectations at the end of the year.

Senior management have been at pains to emphasize that there will be no “big reveal” or “pivot” at the event, and that it is just about shedding a little additional light on the inner workings of the Wall Street firm.

Nevertheless, CFO Stephen Scherr dropped a few tantalizing nuggets in early November at the Bank of America Future of Financials conference.

Talking about his desire to improve efficiency ratios, he said: “I will spend quite a bit of time at the investor day talking about this.”

And when detailing the progress that has been made on controlling operating expenses, he revealed: “Again, this will be the subject of quite a bit of our conversation at our investor day.”

If they were aiming to dampen interest in the event, that is certainly one way to do it.

Those lucky winners in possession of a Golden – sorry Goldman – ticket will probably not be in for a day of chocolate waterfalls, everlasting gobstoppers or extravagantly flavoured chewing gum.


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