Welcome to our exchanges at Goldman Sachs markets update for Friday, January 22nd.

I'm Jake Stewart, Global Head of Corporate Communications here at the firm.

Today we're going to step away from the markets a little bit

and talk about bigger picture corporate strategy for Goldman Sachs.

I'm joined by Stephen Schurr.

Goldman Sachs's chief financial officer, CFO, who is here just after the firm reported

fourth quarter earnings and gave the market a strategic update on the goals that

laid out last year's investor day.

Stephen last join us on the show, last January,

2020, right after that investor day.

A lot's happened in the interim,

so we'll have plenty to talk about including

the firm's performance during during challenging and historic year.

So Stephen, thanks for joining us today.

Thanks for having me Jake.

So a lot to discuss, but let's begin at the beginning, go back to January 2020.

We just wrapped up an investor day

where we literally and figuratively

opened the doors to the firm for the first time last year.

A few months later, the pandemic set in. Talk us through how the year evolved from your

perspective and give us a couple critical moments from the height of the crisis.

Well I will say investor day seems quite distant at this point.

...