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Articles tagged "David Solomon"


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David Solomon: With our clear and simplified strategy, we have a much stronger platform for 2024.

Goldman Sachs salvages $349-million 'gain' from its United Capital misadventure that may also be a $400-million haircut

The New York City investment bank managed a sale and jailbreak of its in-house mass-affluent RIA but was able to get enough assets transitioned to Peter Mallouk's Creative Planning for the accounting win

January 19, 2024 at 1:45 AM

David Solomon: 'A lesson learned is by selling United Capital it allows us to take resources and add it to our investment in ultra-high net worth growth.

Goldman Sachs CEO calls United Capital debacle 'lesson learned,' amid RIA exodus, and operating losses

David Solomon pushed a big reset button as Goldman Sachs shares reset to 2021 level; pieces were sold in a flurry, and he renounced his disc jockey side-gig.

October 21, 2023 at 1:56 AM

David Solomon is extracting Goldman Sachs from middle-brow asset management.

Source: Goldman Sachs expected to announce sale of 'United Capital' on Monday or Tuesday, which tells more about the Wall Street bank's dysfunction than Joe Duran's old rollup

The New York City investment bank is 'at war with itself,' the Wall Street Journal says, in part, because ex-CEO Lloyd Blankfein's hare-brained ideas about extending its B2B brand were made worse by current CEO David Salomon..

August 19, 2023 at 2:47 AM

David Solomon: 'It's not that by doing this that we're doing something dramatically different.'

Goldman Sachs fought the squid, but the squid won as CEO David Solomon puts the United Capital-Ayco RIA back under the control of house asset managers

Solomon acknowledges he's largely reunifying wealth management and asset management to regain synergies after trying to give the in-house RIA agency.

November 1, 2022 at 4:03 AM

Matt Brinker: It is time to look forward so, with a bit of a heavy heart and a flood of sentimentality, I am sharing that yesterday was my last day at United Capital.

Goldman Sachs closes United Capital deal and Matt Brinker, Joe Duran's wingman, exits with social media swan song on same day

The M&A chief's departure from the Newport Beach, Calif. roll-up may signal that its rolling-up days are over

July 18, 2019 at 6:13 PM

Matt Crow: 'If there is one consistent story in these RIA rollups, it’s that building them takes longer than anybody expects.'

What's wrong with this branding picture? Goldman Sachs takes a limo ride to the mass affluent market by flashing big cash for United Capital

Will Goldman Sachs pay 18-times EBITDA for your RIA? No, but Goldman’s United Capital buy suggests the consolidation winds are shifting

May 29, 2019 at 4:45 PM

Source: 'Joe [Duran] did everything he could to avoid this.'

Joe Duran's sale to Goldman Sachs achieves impressive goal but at the expense of his far grander dream; Will Goldman leave him outside looking in?

For years, the United Capital CEO sought a financial partner that would carry his firm to a multi-billion dollar IPO and him to greatness. In the end, he settled on the high bid and murky role inside a Wall Street machine

May 17, 2019 at 3:03 AM

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