The Big Question for Goldman's CEO David Solomon
Toward the end of last year and at the start of this year, the investment banking powerhouse Goldman Sachs (NYSE: GS) indicated that it was planning to significantly scale back its consumer banking ambitions, which it formally began six years ago.
That's after Goldman reported more than $3 billion of losses in the unit between 2020 and 2022 and as credit quality in its consumer lending portfolio began to deteriorate.
I think many assumed this step back would soon lead to a quick exit or wind-down of Goldman's consumer banking operations. However, at Goldman's recent investor day, CEO David Solomon sent somewhat mixed messages to the market. The big question for Solomon is whether Goldman is in or out of consumer banking.
Source Fool.com
