Goldman Sachs Group Inc.’s Chief Executive David Solomon expressed concern about the widening conflict in the Middle East even though it hasn’t had a significant impact on business yet.
Abeer Abu Omar and Joumanna BercetcheAmidst market volatility, portfolio manager Paul Harris, discusses whether Q4 will bring a soft landing for North America n markets.
Earlier this month, Goldman reported a 45% rise in third-quarter profit on a surprise rise in equity-trading revenue and a rebounding investment-banking business. While the US election has the potential to bring changes “there is no question that the dealmaking environment is improving,” Solomon said Tuesday.
“I am kind of concerned about the situation,” Solomon said about the Middle East. “It is not good for security, safety and growth.”Solomon also warned about risks around regulation, with elections coming up in the US on Nov. 5. Polls have shown Vice President Kamala Harris and former President Donald Trump in a dead heat.
Solomon is joined this week by a string of top global financial leaders including Citigroup Inc.’s Jane Fraser and BlackRock Inc.’s Larry Fink, who have become regulars at the Riyadh summit and are set to attend this year.“Our equity franchise is performing very very well. I can’t tell you quarter-to-quarter what the market environment will put up for that franchise, but we are positioned very well to serve our clients and have a leading share position in that business.
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