Goldman’s trading business returns to former glory during pandemic stress | Malay Mail

Wednesday, 14 Oct 2020 10:32 PM MYT

The Wall Street bank posted a quarterly return on equity of 17.5 per cent, its highest since 2010. Investors closely track that figure because it shows how well a bank uses shareholder money to produce profits. In the years leading up to the pandemic, Goldman’s heavy exposure to trading and lack of exposure to traditional lending was viewed as a problem. The bank is in the middle of a business-model revamp orchestrated by Chief Executive David Solomon that includes building out its consumer bank, called Marcus, and adding services like retail wealth management.

In a statement, Solomon said Goldman has notched market share gains that will help during the post-pandemic recovery. Its backlog of upcoming deals has “increased significantly,” Chief Financial Officer Stephen Scherr said on a conference call, suggesting future quarters will also have robust fees.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Energy stocks drag FTSE 100 lower as Johnson sets out new Covid-19 curbs | Malay MailLONDON, Oct 13 ― London's FTSE 100 fell yesterday in a choppy trading session as a dip in oil prices hit energy stocks and as Prime Minister Boris Johnson laid out fresh restrictions to contain the growing coronavirus crisis. After rising 0.3 per cent in morning trading, the blue-chip FTSE 100...
Источник: malaymail - 🏆 1. / 86 Прочитайте больше »