NEW YORK, Oct 17 (Reuters Breakingviews) - Having given up a side-gig in DJ-ing, Goldman Sachs (GS.N) boss David Solomon has one less distraction.
Goldman reported a one-third year-on-year drop in earnings on Tuesday, in a quarter riddled with one-off charges.
Those included a hit related to buy-now-pay-later lender GreenSky, which Goldman bought only two years ago, and is selling.
Absent all that, Goldman would have made a return on equity of just over 10%.
Goldman made a 7.1% return on equity in the quarter, on an annualized basis, which would have been 10.2% without one-off charges.
Persons:
Goldman Sachs, David Solomon, Goldman, GreenSky, Morgan Stanley, Solomon, Marc Nachmann, Nachmann, Jonathan Guilford, Sharon Lam
Organizations:
Reuters, JPMorgan, Thomson
Locations:
tomorrow’s, Basel, GreenSky