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Benioff’s Moves, Goldman Questions & A Disney Activist Post-Mortem

News and notes around Wall Street: about David Solomon’s consumer play, Salesforce’s activist appeasement, Disney’s life after Peltz, and Elon.

Goldman C.E.O. David Solomon responded to pointed questions about the firm decade-long, unprofitiable foray into consumer banking at last week’s investor conference.
At last week’s investor conference, Goldman C.E.O. David Solomon responded to pointed questions about the firm’s decade-long, unprofitable foray into consumer banking. Photo: Michael Kovac/Getty Images
William D. Cohan
March 5, 2023

Running Goldman Sachs is not an easy job, especially these days. As C.E.O. David Solomon noted repeatedly during last week’s investor conference the last three years have been anything but normal—the global bank is still dealing with the after-effects of a global pandemic, a complicated new interest rate environment, the reality of a wildly profitable 2021 followed by a far more challenging 2022, and the continued leaks about the unrest at the firm, especially among a subset of seemingly miffed partners.