David Solomon
speaker
1,572 appearances
35 recordings
8 series
first heard Oct 2025
last heard 8 Jul
David Solomon’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 35 in all, peaking in Feb 2026 with 14.
Appearances
But I just told you we were running it at 2,500, which by the way, looks similar to what we were running at pre-COVID, but lower than the 3,000 plus we were running in 2021.
My guess is it's going to be in the next three years.
That will contract a little, but not in a way when you and I would say, wow, this is a huge, huge change.
We're still going to hire a lot of people out of school.
That is a great question, Tracy.
I can tell you some examples of things we're doing where I know we'll be able to quantify some significant productivity gains.
but they're more in the category of remaking operating processes.
So what we're doing under what I know you guys have read about, 1GS 3.0.
So if we redo our client onboarding, anti-money laundering, KYC processes, and we had a process that had 3,800 people touching it, not 100% of their job touching it, and now we'll have a process with a few hundred people touching it, that's a productivity, when it's done, I can measure the productivity gain of that process, okay?
That's different than saying to me, OK, you've got a bunch of people who work in investment banking.
OK, how much more productive are they?
Now, one measure is I can look at the revenues we have in investment banking and the earnings in investment banking and the number of investment bankers we have and the amount of capital we allocate to that business over the last 10 years.
And you know what?
Our people are more productive because we're making on a per person basis more revenue, more profit.
Mm hmm.
on a per person basis, but we definitely are allocating more capital to the business and the capital is helping in creating leverage, but there's no question they have better tools.
They can do more.
We've found ways for them to do more.
We also have collaborative power going on inside the firm in the context of 1GS, 1.0 and 2.0 that are adding to revenue growth.
It's very hard to pull it apart.
Showing 261–280 of 1,572 · page 14 of 79
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