Financial TimesFinancial Times

The reinvention of Goldman Sachs: what has David Solomon achieved?

By Joshua Franklin

17 Aug 2022 · 10 min read

Editor's Note

The Big Read from the Financial Times is this profile of the CEO. After almost four years in charge, some are doubtful of what his tenure has managed to achieve.

After almost four years in charge, the CEO’s strategy to diversify the bank has not been as transformative as many had hopedNot long after becoming the chief executive of Goldman Sachs in 2018, David Solomon asked for a private plane.

It was a controversial request. Goldman bankers traditionally eschewed ostentation, and when its chief executives used private aircraft, they rented them from NetJets. Solomon reckoned that his lost time from flight delays cost the bank money and the Goldman team conducting a cost-benefit analysis ended up seeing things his way. The bank wound up ordering two Gulfstream jets. Solomon even had a hand in choosing the decor, says a person familiar with the matter.

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