2024-04-24 13:57:07 ET
Goldman Sachs Group, Inc. (GS)
Annual Shareholders Meeting Conference Call
April 24, 2024, 10:30 ET
Company Participants
Kathryn Ruemmler - The Goldman Sachs Group
David Solomon - The Goldman Sachs Group
Conference Call Participants
Luke Perlot - National Legal and Policy Center
Dan Chu - Sierra Club Foundation
Amna Khan - New York City Comptroller
Simon Doong - Presbyterian Church (USA) & Portico Benefit Services
Ryan Shadi - National Center Public Policy Research
Presentation
David Solomon
Good morning, everybody. Welcome. I'm David Solomon, the Chairman and CEO of Goldman Sachs. Thank you for joining us at our Annual Shareholders Meeting here in Salt Lake City, Utah or listening to our audio webcast. I now call the meeting to order.
2023 was a year of execution for our firm. Despite a challenging operating environment, we took decisive action to narrow our strategic focus and play to our core strengths. As you can see in our most recent quarterly results, we're delivering on this strategy and putting the firm in a stronger position for the FORWARD.
We've made a lot of progress, and I'm confident in the strength of our franchise and our ability to deliver for our clients and shareholders. It is clear that our One Goldman Sachs operating ethos and client-centric approach has had a meaningful impact. Over the last 5 years, our stock has doubled. We have more than tripled our dividend, and we have grown our book value per share by 54%, above all U.S. peers.
We will continue to work hard to deliver for our shareholders. We are focused on strategic objectives and execution areas we laid out in January. And over the longer term, we remain focused on 3 outcomes: We continue to be a trusted adviser to our clients; to be an employer of choice for our people; and to generate mid-teens returns through the cycle and strong total shareholder return.
Over the course of the last year, we've made some significant investments in our culture. This is something that is and will continue to be incredibly important to the firm and to me personally. Our people are a key differentiator for our firm. Over the past year, we have placed a particular focus on reinvigorating our culture. I personally led our cultural stewardship program, we had the privilege of hosting 19 of the 20 sessions and meeting its small groups with over 400 of our partners to discuss our culture in depth. ...
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Goldman Sachs Group, Inc. (GS) Annual Shareholders Meeting Call Transcript