New York Magazine's profile of Goldman Sachs CEO David Solomon (GS) was unflattering, to say the least. In a new Financial Times opinion piece, Rupak Ghose, a strategic advisor to fintech companies and banks, defends Solomon. Ghose tells Yahoo Finance Live that Goldman's performance under Solomon hasn't been that bad, noting the increase in share price and that company's risk management.
There are three things Ghose says Solomon would likely quiet his critics if he did three things: First, he needs to get "quarterly earnings motoring again." Second, no unforced errors, such as his comments at Hamilton College. Third, he needs a "strategic vision." Ghose disagrees with Goldman's decision to get into consumer banking. Instead he says, the bank should be "sticking closer to home of asset management, where they have a core DNA in alternatives, hedge funds, and private equity."
