Goldman's Gnodde: We'll Continue to Hire Selectively

The transcript discusses strategic decisions, focusing on performance and the strength of core franchises in investment banking and global markets. It highlights market share growth and asset management consolidation. The firm adapts to the cyclical industry by hiring new talent and improving efficiency. Compensation is aligned with performance, acknowledging the cyclical nature of the business. The long-term view is emphasized for both staff and shareholders.

What was the return on equity for the company's core franchises?

• 20%

• 16%

• 25%

• 10%

How is the company planning to adapt to the cyclical nature of the industry?

• By reducing the workforce significantly

• By maintaining a static business model

• By being nimble and hiring new talent

• By focusing solely on consumer platforms

How many new hires from universities is the company planning to bring in?

• 2000

• 4000

• 3000

• 1000

What is the company's approach to compensation in a cyclical industry?

• Compensation is reduced every year

• Compensation is aligned with performance and industry cycles

• Compensation is based on employee tenure

• Compensation remains constant regardless of performance

What is the long-term view for employees in a cyclical industry according to the company?

• Focus on short-term gains

• Expect consistent bonuses every year

• Understand the cycle and aim for long-term rewards

• Switch industries frequently