Goldman Sachs Group Inc
“”We’re … very open to the proposition of acquisitions that fill gaps or speed up components of our progress plan,” Scherr mentioned at a convention convened through convention name and webcast, slightly than in-person, resulting from considerations concerning the coronavirus outbreak.
There has been broad investor hypothesis about Goldman’s urge for food and skill to do mergers or acquisitions since rival Wall Street financial institution Morgan Stanley
Goldman Chief Executive David Solomon has set bold targets for the financial institution to develop its fledgling on-line shopper financial institution, Marcus, its bank card enterprise and money administration platform. But business insiders are skeptical that it could possibly develop shortly with out doing a deal.
Scherr mentioned the financial institution just isn’t at the moment trying to do “bigger materials transactions … within the close to time period.”
“I believe you may discover us to be far more acquisitive within the context of accelerating and facilitating the expansion of enterprise initiatives which are there, none of which might essentially current themselves as… materials to the agency total,” he added.
Scherr additionally touched on the coronavirus and its influence on the financial institution’s day-to-day operations and markets.
He mentioned the financial institution at the moment has no recognized circumstances of coronavirus amongst its employees, however that it continues to roll out precautionary measures, together with splitting groups as much as work at separate places and having some employees work at home on a rotating foundation.
Scherr mentioned the financial institution is monitoring danger throughout all market sectors and has seen a “discount broadly in liquidity” and a few challenges within the “value of funding.” But he mentioned there aren’t any main indicators that company shoppers are underneath stress.