David Solomon

Volatility increased meaningfully amid concerns around AI-driven disruption in sectors like software, heightened uncertainty in parts of private credit, and the conflict in the Middle East.

She called me yesterday afternoon and told me that the press coverage of the work that she had done previously of this whole situation had just gotten to a level of noise and distraction that she thought it was distracting the firm.

It was putting her in a position where it was hard for her to execute on her job and her responsibilities, and she just thought it was time to step away.

And so you saw our statement and her statement.

I reluctantly accepted her resignation.

She called me yesterday afternoon and told me that the press coverage of the work that she had done previously of this whole situation had just gotten to a level of noise and distraction that she thought it was distracting the firm.

It was putting her in a position where it was hard for her to execute on her job and her responsibilities, and she just thought it was time to step away.

And so you saw our statement and her statement.

I reluctantly accepted her resignation.

She called me yesterday afternoon and told me that the press coverage of the work that she had done previously of this whole situation had just gotten to a level of noise and distraction that she thought it was distracting the firm.

It was putting her in a position where it was hard for her to execute on her job and her responsibilities, and she just thought it was time to step away.

And so you saw our statement and her statement.

I reluctantly accepted her resignation.

You know, we've worked very closely with Kathy over the last six years.

The management team's worked very, very closely with her.

We know her as a professional and we know her as a human being.

And I think that's lost sometimes in some of the dialogue and some of the media reporting around all this.

I'm disappointed that it got to this, but I respect your decision and we're moving on.

She called me yesterday afternoon and told me that the press coverage of the work that she had done previously of this whole situation had just gotten to a level of noise and distraction that she thought it was distracting the firm.

It was putting her in a position where it was hard for her to execute on her job and her responsibilities, and she just thought it was time to step away.