Goldman Sachs Will Be Active in Bolt-On-Acquisitions, CFO Scherr Says

The transcript covers a business review by a new management team, highlighting their strategies and confidence in their Fick business. It discusses market challenges, particularly political risks affecting trading. The partnership with Apple for a credit card is explored, emphasizing its long-term profitability and strategic benefits. The 1MDB investigation involving Goldman Sachs is addressed, noting ongoing dialogues with regulators. Finally, the transcript discusses acquisitions and market expansion, focusing on wealth management in Europe and the impact of US-China trade tensions.

What was the primary focus of the new management team's business review?

• Expanding into new markets

• Increasing marketing efforts

• Re-underwriting their business

• Reducing operational costs

How does Goldman Sachs view its partnership with Apple in terms of long-term profitability?

• As a short-term loss

• As a break-even venture

• As a very profitable business

• As a risky investment

What is Goldman Sachs' approach to engaging with consumers in their new business strategy?

• Engaging through a digital platform

• Reducing consumer interactions

• Focusing on luxury services

• Opening more physical branches

What is the nature of Goldman Sachs' dialogue with the Department of Justice regarding the investigation?

• Hostile

• Adversarial

• Cooperative

• Non-existent

What type of acquisitions is Goldman Sachs primarily interested in?

• Hostile takeovers

• Transformative acquisitions

• Bolt-on acquisitions

• Joint ventures

In which area does Goldman Sachs see potential for growth in Europe?

• Retail banking

• Insurance

• Wealth management

• Real estate

How do trade tensions between the US and China affect Goldman Sachs' business?

• They change client business dynamics

• They have no impact

• They result in more partnerships

• They lead to increased profits