David Solomon

Thank you for having me.

The podcast finds me in Florida for the day and then on my way to Davos, where I believe Scott is for the next few days.

And so I'll be there.

I'll be there tomorrow morning and certainly should be an interesting week with everything going on in the world.

2025 was a pretty constructive environment for our business, and I actually think 2026 is going to be a pretty constructive environment for our business, too.

There obviously in 2025, there was a speed bump, you know, in April with the launch of the the tariff of the trade policy, which slowed things down and certainly sapped investor confidence for a period of time.

But the macro setup is pretty good.

We can certainly spend some time talking about the macro setup.

For Goldman Sachs and Goldman Sachs' performance, we've been executing.

We did our first investor day back at the beginning of 2020, where we laid out a plan to really grow the firm.

to really invest in our core business, the global banking and markets.

We pointed to four areas that we thought we really could grow the firm, asset management, wealth management, transaction banking, digital consumer banking, and we pledged to run the firm over time more efficiently.

And really, for the last five years, we've been executing on that, five, six years, we've been executing on that aggressively and making good progress.

And you go back

to the end of 2019 when we laid out that plan, the firm was about a $36 billion revenue firm.

The market cap was about $70 billion.

And as you highlight, we're a $60 billion revenue firm.

We've grown our revenues kind of 60%, 65%.

We've grown our earnings by over 100%.

We've really grown the franchise and scaled the franchise in 2025, really saw that all come together.