The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Goldman and IB: Where do you go from number one?

The co-head of investment banking wants the firm to 'win by more' in the businesses where it already leads, but ramp up its client coverage overall – and roll out its transaction banking platform.

Goldman Sachs's new revenue and return targets across the firm are predicated as much as anything on an ability to grow in well-established businesses where it already has leading positions; investment banking is the most obvious among those.

Can it do it?


Gregg Lemkau

As co-head of investment banking, Gregg Lemkau had the enviable job on the firm's investor day of reeling off the number one market shares that Goldman enjoys, including announced and completed mergers and acquisitions, and equity underwriting.

He wanted the audience on January 29 to be in no doubt that "Goldman Sachs is the number one investment bank in the world". Its 10,000 clients served by 3,000 bankers were also testament to that.

But that didn't mean it couldn't grow. And in the same way that chief executive David Solomon had already outlined for the firm as a whole, Lemkau catalogued the triple approach of increasing Goldman's share with core clients and services, expanding the client footprint, and developing new solutions, including transaction banking.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree