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Squawk on the Street

CNBC Exclusive: Goldman Sachs CEO David Solomon 9/7/23

Squawk on the Street

CNBC

Investing, Business, News

4.1567 Ratings

🗓️ 7 September 2023

⏱️ 23 minutes

🧾️ Download transcript

Summary

In this exclusive interview, "Squawk on the Street" co-anchor David Faber spoke with Goldman Sachs CEO David Solomon at the Goldman Sachs Communacopia & Technology Conference in San Francisco, CA. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

Click on a timestamp to play from that location

0:00.0

David, thank you for both having us here at the conference and joining me for an interview. Well, I'm delighted to be with you, David, and I have to start by thanking you for being here. I mean, this is a super conference. We've got over 2,500 investors here for a couple of days, 200 companies, you know, a lot of good dialogue. There's a lot going on in the technology space. And, you know, it's great to be out here.

0:21.5

It's great to have you out here.

0:22.4

Yeah, I appreciate that.

0:23.7

Great to both of us fly across the country so we can talk to each other when our offices. Well, I flew across the country to be at the conference and talk to a bunch of clients, but I'm delighted to talk to you. I'm so glad you're with me as well, David. All right, now that we were laughing a little bit, I do want to start off on kind of what rarely seen in my career, sort of this highly unusual avalanche of stories

0:42.5

focused really, David, on your personality defects.

0:46.1

I mean, it's been bizarre.

0:47.9

New York Times, Wall Street Journal, Bloomberg, New York Magazine.

0:51.0

Why has this happened?

0:57.8

You know, I can't give you a good reason why it's happened. What I can't say to you, David, is it's not fun, you know, obviously watching some of

1:03.4

the personal attacks in the press. Obviously, we're a big organization. We're doing a lot of

1:07.7

things in the world. And, you know, we should be scrutinized, and we are scrutinized, and we watch that, you know, that scrutiny very, very carefully.

1:15.6

I don't recognize the caricature that's been painted of me.

1:19.6

I have a lot of colleagues and clients I talk to.

1:22.6

They don't recognize that caricature either.

1:24.6

And I tell you a lot of them, particularly my colleagues, are not shy about expressing their personal views. But look, I always reflect on it. You always look at it. And we're focused on doing what we're doing. I think we've made a lot of progress in the last five years. Growing the firm, serving our clients, executing on the strategy, and we're going to stay focused on that.

1:45.0

Yeah, and I want to, obviously, we're going to talk about that, but I mean, do you feel, you know, to your point, it's a rare thing to see these personal attacks.

1:52.0

You know, you run a company, like a lot of guys run a company and ladies run companies.

1:57.0

Do you think it's an orchestrated campaign of some kind? Is it based simply on the

2:02.8

frustration of your partners because they didn't get paid as much in 2022 as they did in 21?

2:07.9

Goldman Sachs is a very visible organization. If you go back and you look historically,

2:12.5

there have been lots of times where the person sitting in this job has been scrutinized by the

2:17.3

press.

...

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