CEO is mired in "quicksand" due to a management style that's "winning few fans" as the bank restructures and pivots away from consumer...
Goldman Sachs Group Inc. CEO David Solomon’s management style has been drawing criticism from within the company as the bank’s stock price has lagged its peers, according to a New York Times report.
Citing people familiar with the company, the newspaper reported over the weekend that former Goldman Sachs GS CEO Lloyd Blankfein offered his assistance to Solomon recently but was turned down. Solomon has been criticized, among other things, for being distracted by his hobby as a disc jockey and for his trips to private resorts owned by a company that he invested in, the article said.
At last check, Goldman Sachs’s stock is down 0.8% in 2023, compared with a 3.2% rise by Morgan Stanley MS and a 15.2% increase by JPMorgan Chase & Co. JPM . Goldman Sachs and JPMorgan are components of the Dow Jones Industrial Average DJIA, which is up 6.4% so far this year.
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