Goldman Sachs CEO David Solomon is confident that the incoming wave of initial public offerings (IPOs) will help to fuel a “pickup in the capital markets activity” in the coming fall season. “Obviously an environment with more capital markets activity is a good environment for Goldman Sachs,” Solomon stated in an interview.
Solomon’s comments come as the investment firm faces a tumultuous financial situation, having reported its weakest quarterly profits in three years. This is the latest hurdle in a two-year slump for Goldman Sachs, which has led to criticism aimed at Solomon and his leadership style. Goldman Sachs’s stocks are down 5.5% this year.
Arm Holdings, the chip designer owned by SoftBank Group, as well as online grocery shopping platform Instacart have been among the best-performing IPOs this year, boosting hopes for further success this year.