Goldman Sachs is going through a huge transformation under CEO David Solomon

Goldman Sachs CEO David Solomon

The storied investment bank has seen leadership shakeups under CEO David Solomon and a slew of partner departures. 
Goldman has been moving away from high-risk businesses like trading and is making pushes into more stable areas like consumer lending, wealth management, and transaction banking. 
There have been big cultural changes, too. Solomon is looking to create a more transparent workplace, while new tech execs are taking cues from Silicon Valley heavy-hitters. 
At Business Insider, we are closely tracking the latest developments at Goldman. You can read all of our Goldman coverage on BI Prime.

Storied Wall Street bank Goldman Sachs is going through some massive changes under CEO David Solomon.

It’s taken big steps involving transparency and inclusion to change up its culture. It has seen a slew of partner departures — many in the securities division. And it’s making big pushes into businesses like wealth management and transaction banking.  

The latest on people moves, merchant banking, Marcus

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Goldman Sachs just hired Kurt Hoffman, an expert in distressed situations and bankruptcy, to join a trading unit known for some of the bank’s most lucrative deals
Goldman Sachs’ top tech exec explains how a fresh slew of senior hires are transforming the bank’s approach to building products
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Culture and talent

Goldman Sachs’ summer internship is going virtual, joining the likes of Bank of America and Morgan Stanley who are running remote programs
Read the full memo Goldman Sachs just sent to staff announcing its new head of regulatory affairs. The former White House counsel will be tasked with helping clean up the bank’s 1MDB drama.
Goldman Sachs just hired 2 senior recruiting execs focused on luring top talent from other firms —and it’s a huge departure from the firm’s traditional promote-from-within mentality
Read the full memo David Solomon just sent …read more

Source:: Business Insider – Tech

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