hile battering much of the US economy.
And amid coronavirus-induced restrictions on movement, the financial giant saw lower travel and entertainment costs. Goldman's results came on the heels of a series of mixed earnings releases Friday from rival financial heavyweights JPMorgan Chase, Citigroup and Wells Fargo. However, Bank of America suffered a 16 percent drop in net interest income due to lower interest rates.
Goldman is getting ready to launch a new investment platform on Marcus that will permit individuals to put in as little as $1,000 through Goldman programs on asset allocation and exchange traded funds. Solomon reiterated that Goldman is intent on building Marcus into a long-term business and will set the bar "extremely high" on acquisition targets.