Goldman Executive Tells Staff to Treat Clients Better

The transcript discusses the challenges faced by Goldman Sachs' trading desk, including poor first-quarter results and a need for improved client relationships. Executive Pablo Salome aims to boost morale and teamwork. The broader industry is also struggling, with a 40% decline in FICC business across Wall Street. Rivals like Morgan Stanley are performing better, benefiting from corporate clients. The competitive landscape is intense, with banks vying for limited market share.

What has become a rallying cry on the trading desk at Goldman in recent months?

What was the mood inside Goldman regarding their trading results?

What actions did Pablo Salome take to improve the situation at Goldman?

How has the FICC business across Wall Street been performing compared to pre-crisis revenue numbers?

What challenges are trading desks facing in the current market environment?