The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021.
REUTERS/Andrew Kelly/File PhotoNEW YORK, Oct 19 (Reuters) - Goldman Sachs Group Inc's (GS.N) strategy pivot has solved one problem for investors who didn't love its foray into consumer banking.
Solomon's response: Goldman Sachs is focusing on its fundamental operations while maintaining its financial targets.
"Ultimately the investment banking business is a great business, it has always done well," he said.
"While the consumer strategy has been successful in generating deposits for Goldman Sachs, its expansion has also been costly in terms of operating expenses and provisions.