From Where I Sit - Matt McClure

Six months into my role as Global Co-Head of Investment Banking, alongside Anthony Gutman and Kim Posnett, I’ve had a chance to reflect—not just on this new chapter, but on the journey that led me here.

Over the past 26 years at Goldman Sachs, I’ve had the privilege of experiencing multiple businesses and geographies—from London to New York—and to learn from, and alongside, many of the alumni receiving this note. While much has changed, the essence of how we show up in investment banking hasn’t. The culture that so many of you helped build—rooted in excellence, integrity, and a long-term focus on our clients—is the foundation of how we operate.

Our clients are faced today with as dynamic and demanding of an environment as I’ve seen in my career. They are navigating an extraordinary mix of forces including the proliferation of AI and digital infrastructure, the implications of new trade policy, the convergence of public and private markets, all against a backdrop of evolving geopolitical risk. In response, our business is focused on ensuring we are delivering not only insight, but foresight—advice that is anchored in experience and oriented towards where the puck may be moving, not where it has been.

Our true north of deepening client engagement remains the same. Our focus is on capturing mindshare early and often, embedding ourselves in the strategic decision-making process, and building partnerships for the long-term. Our ability to do so depends upon staying close to what matters most to our clients through all market environments, irrespective of transaction activity. A global perspective is essential to delivering on all of this—while client needs are increasingly complex, they are rarely local. By bringing the full breadth of the firm’s global platform and insights to the table, we can provide truly differentiated advice.

We are also excited about the multiple avenues of growth for Investment Banking, where we can bring our expertise to bear:

• Scaling in the middle market, where we see substantial opportunity to bring institutional-quality advice and execution to founder-led and family-owned businesses.
• Advising across the Infrastructure asset class, where capital flows are shifting towards long-term, durable investment themes.
• Developing innovative ways to engage with financial sponsors on broader capital deployment strategies.
• Sourcing opportunities for our newly formed Capital Solutions Group, where our suite of financing, origination, structuring and risk management solutions enable us to better position our clients around the growth in credit markets.

My confidence in our future is rooted in the quality and strength of our people, many of whom I have had the privilege of spending time with recently in our various offices around the world. Across Investment Banking, I see a generation of leaders emerging with a fresh perspective—smart, collaborative, and ready to lead. We believe AI will ultimately be a powerful force in amplifying that talent. As we continue to invest in innovation across our platform, a core focus for us is equipping our people with the tools they need to be more effective, more insightful, and in sync with our clients’ evolving needs. Whether through data-driven insights, enhanced execution, or intelligent automation, our approach to technology is grounded in one objective: enabling our bankers to deliver better outcomes. This is not about replacing judgment—it’s about providing our bankers with the tools to refine it.

To our alumni community, thank you. Whether you’re still connected to the firm as clients, advisors, or simply as friends—your continued engagement is deeply appreciated.

We look forward to staying close and sharing more in the months ahead.

Matt McClure

Matt.McClure@gs.com