Exchanges at Goldman Sachs is a podcast where experts from around the firm discuss developments shaping industries, markets and the global economy
The industrials sector—historically comprised of mature businesses without as much need for near-term growth capital—has seen robust IPO activity so far in 2021, with no signs of slowing down. Matt McClure, co-head of the Investment Banking Division’s global industrials group, explains what’s driving the activity and how clients are thinking about accessing the public markets.
Should cryptocurrencies be considered an institutional asset class? That’s the question Goldman Sachs’ Allison Nathan explores on this episode of Exchanges at Goldman Sachs in conversations with Galaxy Digital’s Michael Novogratz, NYU’s Nouriel Roubini and Goldman Sachs’ Mathew McDermott. To read the report, click here.
Amid rising concerns over inflation, David Mericle of Goldman Sachs Research explains the big-picture risks to the economy, while Josh Schiffrin from the Global Markets Division looks at market implications on this episode of Exchanges at Goldman Sachs.
How do companies identify new business opportunities? Goldman Sachs’ Tanya Baker and Hasan Malik, co-heads of the firm’s GS Accelerate program, and Daniel Kovenat, whose business idea was developed through the program, share their views on how to foster innovation.
Jake Siewert, outgoing global head of corporate communications, reflects on how communications, media relations and the role of podcasts as a communications vehicle have changed since he joined the firm in 2012.
In the wake of a court ruling backing marriage equality in Japan, Goldman Sachs’ Hiroki Inaba, Masakazu Yanagisawa and Akiko Koda discuss the evolution of LGBTQ+ rights in Japan and companies’ efforts to create more inclusive environments.
Jennifer Davis and Vishaal Rana of the Investment Banking Division discuss the fate of brick-and-mortar retail locations and why the seamless omnichannel experience is the future of consumer retail.
Goldman Sachs’ Benny Adler, co-head of the Americas Franchise Trading team, explains the supply-and-demand dynamics behind the “unprecedented" amount of equity issuance.
With fiscal stimulus and accommodative monetary policy buoying the U.S. economic recovery, prominent economists from former Treasury Secretary Lawrence Summers to former IMF Chief Economist Olivier Blanchard have raised concerns that the U.S. economy could be headed for inflationary overheating. In the latest episode of Exchanges at Goldman Sachs: Top of Mind, host Allison Nathan weighs these reflation risks in conversations with the firm’s chief economist Jan Hatzius and GS Research’s senior markets strategist Dominic Wilson.
A new report from Goldman Sachs Global Investment Research examines the history of financial bubbles and the qualifications for what defines one. Peter Oppenheimer, chief global equity strategist, discusses how today’s strong equities performance may have elements that resemble a bubble, but looks at other factors that argue against that assessment.
As supply-chain disruptions cause delays and higher prices, Global Investment Research’s Joseph Briggs explains the impact on inflation and the rates market.
Special Episode: What the American Rescue Plan Means for the Economy, Markets, Corporations and Investors
In this special episode, four leaders across Goldman Sachs—Alec Phillips of Goldman Sachs Research, Amelia Garnett of Global Markets, Susie Scher of the Investment Banking Division, and Ashish Shah of the Asset Management Division—discuss what the $1.9 trillion American Rescue Plan means for the economy, markets, corporations and investors.
Rising interest rates in 2021 have bolstered the funding status of corporate defined pension plans to their highest levels in years. Goldman Sachs Asset Management’s Mike Moran explains how pensions plans have fared in 2020 in his latest report as well as his outlook for this year.
In this episode, Gizelle George-Joseph of Goldman Sachs Research discusses the staggering gaps Black women face across a range of economic measures—including wealth, earnings, and access to healthcare—as outlined in her team’s recent Black Womenomics research report. Next, David Solomon, Chairman and CEO of Goldman Sachs, and Margaret Anadu of the Asset Management Division discuss the firm’s new One Million Black Women initiative. Then, Melissa Bradley of 1863 Ventures discusses how her work providing economic and networking opportunities for Black and brown entrepreneurs is aligned with the One Million Black Women initiative.
Marty Young of Goldman Sachs Research discusses his team’s new report on the US housing market, one of the most rate-sensitive sectors of the US economy, and why he expects house price appreciation to continue to remain positive even in the event of an interest rate shock.
Diana Dieckman and Freddie Parker of Prime Service within Goldman Sachs’ Global Markets Division talk about the state of the hedge fund industry and the current sentiment among fund managers and allocators.
The volatile start to 2021—with some heavily-shorted stocks unexpectedly skyrocketing in late January—seemed to have subsided. But with some of these stocks again on the rise, we ask what factors caused this volatility, how likely it is to repeat, what could prevent this, and what it signals about, or for, markets. Allison Nathan, creator and editor of the firm’s Top of Mind report, turns to former SEC Chair Arthur Levitt, Wellington’s Owen Lamont, and Goldman Sachs’ co-head of Global Prime Services, Kevin Kelly, for answers.
Paget MacColl, co-head of the Americas Institutional Client Business within Goldman Sachs Asset Management, shares takeaways from GSAM’s annual healthcare diagnostic, which surveys CIOs of nonprofit healthcare organizations and hospital systems. MacColl is joined by Stefan Strein, chief investment officer for the Cleveland Clinic, who talks about managing a portfolio through a public health crisis and why he’s particularly excited about the investment opportunities in tech and ESG.
To start the episode, Joe Wall of Goldman Sachs’ Office of Government Affairs gives an overview of survey results from nearly 1,300 Goldman Sachs Small Businesses participants who answered questions about PPP funding, access to capital, affordable healthcare, the personal toll of COVID-19, and more. Then, two graduates of the Goldman Sachs 10,000 Small Businesses program, Brent Reaves of Smokey John’s Bar-B-Que in Texas and JoEllen Hockenbrough of Providence Power Yoga in Rhode Island, share their personal stories about leading a business through a pandemic and how they’re staying resilient and optimistic looking toward the future.
Kash Rangan, lead software analyst for Goldman Sachs Research, talks about how the pandemic has accelerated investment in the software sector and the key opportunities that lie ahead.
Peter Oppenheimer, Goldman Sachs’ chief global equity strategist and head of Macro Research in Europe, talks about why the changing mix of policy support in this cycle suggests a possible inflection point towards a more reflationary environment.
Stephan Feldgoise and Mark Sorrell, co-heads of global mergers & acquisitions in Goldman Sachs’ Investment Banking Division, discuss the key drivers behind historic levels of M&A activity, their positive outlook for dealmaking in 2021, and the resurgence of cross-border transactions. Plus, check out an infographic on the implications of executing M&A transactions in a virtual environment.
Sharmin Mossavar-Rahmani, Chief Investment Officer for Goldman Sachs Private Wealth Management, discusses her team’s investment outlook for 2021 and why she is telling clients to stay invested. “Our recommendation of US preeminence and staying invested has served our clients well,” Mossavar-Rahmani says. “People might think that those two themes have outlived their value, and our message is, no, continue with that theme.”
Joe Duran, head of Personal Financial Management, a Goldman Sachs company, discusses the rise in retail investing and what it means for individual investors’ portfolio strategies.
In this special episode, four leaders across Goldman Sachs—Raj Mahajan of the Global Markets Division, John Marshall of Goldman Sachs Research, Lizzie Reed of the Investment Banking Division, and Greg Tuorto of Goldman Sachs Asset Management—discuss the historic rise of retail investing and its profound implications for market participants.
With the strength of the IPO market and the surge in IPOs via SPACs continuing into 2021, host Allison Nathan, creator and editor of the firm’s Top of Mind report, asks experts whether or not these trends are sustainable. She speaks with Goldman Sachs’ head of Global Equity Capital Markets, David Ludwig, Professor of Finance at the University of Florida, Jay Ritter, and Professor of Business and Law at Stanford Law School, Michael Klausner.
Scott Rubner of Goldman Sachs' Global Markets Division recaps historic inflows into global equities in January and talks about the ongoing retail trading phenomenon and what it means for markets.
One year after Goldman Sachs’ first-ever Investor Day, Stephen Scherr, the firm’s Chief Financial Officer, provides an update on how the firm is tracking against its goals and why 2021 will be a “year of execution.”
Olympia McNerney of Goldman Sachs’ Investment Banking Division talks about the continued momentum behind SPACs as an alternative path for companies to raise money in the public markets.
Joe Wall of Goldman Sachs’ Office of Government Affairs explains what’s included – and what’s not – in the US’ second stimulus package of 2020.
Drew Pavlovich of Goldman Sachs’ Consumer and Wealth Division recaps a historic year in financial markets and talks about how clients are positioning their portfolios going into 2021.
Gregg Lemkau, co-head of the Investment Banking Division, reflects on how the industry and the firm have changed – and stayed the same – since he joined Goldman Sachs in 1992.
Moran Forman of Goldman Sachs’ Global Markets Division gives her take on how institutional investors are viewing market pricing and volatility going into the last few weeks of the year.
Scott Rubner of Goldman Sachs' Global Markets Division breaks down the record-setting November in equity markets and talks about investor sentiment going into year-end.
David Kostin, Goldman Sachs Research’s Chief U.S. Equity Strategist, looks back at an events-heavy week and what it means for markets in the days ahead.
Salveen Richter, lead analyst for the US Biotechnology sector in Goldman Sachs Research, talks about Pfizer’s clinical-trial results for its COVID-19 vaccine and the obstacles that still lie ahead for FDA approval and widespread distribution.
Ashok Varadhan, global co-head of Goldman Sachs’ Global Markets Division, on how markets have moved in response to the US election and what investors expect in terms of economic growth and policy agendas looking ahead.
Amelia Garnett of Goldman Sachs' Global Markets Division talks about the key conversations she's having with investors ahead of the November 3rd election.
From the 2020 virtual Builders + Innovators Summit, Goldman Sachs' Kim Posnett speaks with two founders about their resilience and adaptability leading through an unexpected year and the backdrop for entrepreneurship more broadly.
Jason Granet, head of the firm’s LIBOR transition effort, gives an update on the timing and impact of the industry-wide transition away from the London Inter-bank Offered Rate (LIBOR).
Tony Pasquariello of Global Markets gives an update on US equity performance and why 2020 has seen so much trading activity.
Jason Mathews of Goldman Sachs’ Global Markets Division explains what the futures market indicates about investors’ outlook for the election and another round of U.S. fiscal stimulus.
Mike Moran, senior pension strategist for Goldman Sachs Asset Management, discusses how COVID-19 and the resulting market volatility have impacted defined benefit pension plans and participants in defined contribution plans, and what to consider going forward.
Erin Riley of the Markets Coverage Group in Private Wealth Management discusses the two key milestones her clients are watching: the U.S. election and the potential for a COVID-19 vaccine.
Jennifer Roth of Goldman Sachs’ Global Markets Division talks about how emerging-market economies are trying to steer their way toward a recovery, and how investors are responding to those efforts.
Faryar Shirzad, global head of Goldman Sachs’ Office of Government Affairs, gives an overview of the moving parts and pieces of tech policy today and explains why these issues don’t fall clearly down political party lines.
Heather Bellini and Piyush Mubayi of Goldman Sachs Research discuss consumers’ social media consumption in the U.S. and Asia. Then, Jane Dunlevie from the Investment Banking Division discusses the state of play among her social media clients.
Heather Bellini of Goldman Sachs Research and Ryan Nolan of the Investment Banking Division talk about the role of technology in the workplace of the future. Then, Tammy Kiely of the Investment Banking Division interviews Renee James, CEO of Ampere Computing, about what she’s learned leading a tech startup through the pandemic.
Brett Feldman of Goldman Sachs Research, Adam Agress of Goldman Sachs Asset Management, and Alekhya Uppalapati of the Investment Banking Division talk about the rise of streaming and how movie theaters are adapting to the current environment.
Tony Pasquariello of Goldman Sachs' Global Markets Division explains how major stock market indices have backtracked somewhat from record highs in August – and why investors aren’t getting too worked up about it.
Three interns from the firm’s first virtual intern class share their perspectives with Bentley de Beyer, global head of Human Capital Management.
Dominic Ashcroft and Luke Gillam, co-heads of EMEA Leveraged Capital Markets in Goldman Sachs’ Investment Banking Division, talk about the “cautiously optimistic” sentiment among corporate clients.
Goldman Sachs' Chief Strategy Officer Stephanie Cohen talks with three Launch with GS CEOs about their founder journeys and lessons learned while leading through times of crisis.
Michael Cassell of Goldman Sachs' Global Markets Division talks about the cautious optimism with which investors are viewing the current equity market rally.
Katie Koch, co-head of the Fundamental Equity business within Goldman Sachs Asset Management, talks about why diversity gives investing teams a competitive edge.
In this episode of our Venture Capital Horizon series with Heath Terry of Goldman Sachs Research, we dive into the future of e-commerce and the adoption of robotics in everything from manufacturing to packaging and delivery.
Mike Siegel of Goldman Sachs Asset Management summarizes key investment trends from GSAM’s 2020 Insurance Report.
Steve Strongin discusses the future of ESG investing, based on a new report from Goldman Sachs Research.
Tony Pasquariello of Global Markets recaps the historic market rally of Q2 and institutional investors’ outlook for Q3.
Kristin Olson of the Consumer and Investment Management Division explains where investors are finding value in alternative asset classes.
Tim Ingrassia of Goldman Sachs Investment Banking Division provides an update on M&A trends.
Hari Moorthy, head of Transaction Banking, talks about how transaction banking is disrupting legacy technologies.
Lizzie Reed of Goldman Sachs’ Investment Banking Division gives an update on what’s been driving investor interest in equity markets.
Steve Strongin discusses a new framework for investing after COVID-19.
Tony Pasquariello of Goldman Sachs’ Global Markets Division provides an update on how investors are reacting to the gradual re-opening of the U.S. economy.
Margaret Anadu, head of the Urban Investment Group, provides an update on the $500 million Goldman Sachs has committed in lending capital for small businesses.
Terry Hagerty of Goldman Sachs’ Investment Banking Division talks about how COVID-19 has impacted the outlook for housing and the broader building products sector.
As volatility continues in the public markets, Meena Flynn of Goldman Sachs’ Consumer and Investment Management Division gives her analysis on the latest swings and explains how investors with permanent capital are positioning themselves.
Goldman Sachs Chairman and CEO David Solomon shares his views on the pandemic and the economic impact, alongside other of the firm’s senior leaders.
Margaret Anadu of Goldman Sachs’ Urban Investment Group talks about how the pandemic is impacting small businesses in the US, and three entrepreneurs and graduates of Goldman Sachs’ 10,000 Small Businesses program share their personal stories.
Anne Marie Darling of Goldman Sachs’ Global Markets Division analyzes the S&P 500 index’s historically fast fall into bear market territory.
In an effort to provide timely and valuable updates regarding ongoing market volatility and potential economic impacts, we’re sharing a “Market Update” call hosted by our Investment Banking Division.
Goldman Sachs’ top economists and strategists discuss revised forecasts for the US economy and the outlook for stimulus programs.
Joe Montesano, head of Americas Equity Trading for Goldman Sachs, analyzes how the coronavirus pandemic continues to add volatility to financial markets.
Goldman Sachs’ global medical director, Dr. Michael Rendel, talks about the firm’s response to the coronavirus pandemic and shares advice for how individuals can stay healthy and productive while working remotely.
The oil price war that contributed to the recent stock market plummet represents a structural shift in the energy market that will have lasting repercussions for producers around the globe, says Goldman Sachs Research’s Jeff Currie.
Heath Terry of Goldman Sachs Research shares the latest from his Venture Capital Horizons report where he dives into the emerging field of computational biology.
Sean Legister of Goldman Sachs’ Global Markets Division shares his story as well as the story behind Breakfast Bites, a monthly discussion connecting black colleagues and senior leaders.
Steve Strongin and Jan Hatzius on the lessons we can learn from past global market shocks.
Sharmin Mossavar-Rahmani on why she’s telling clients to stay invested in the stock market.
Goldman Sachs CFO Stephen Scherr reflects on the firm’s first-ever Investor Day and the firm’s forward strategy.
Goldman Sachs’ Michele Della Vigna explains his latest research on the future of energy in the age of climate change.
David Kostin, the firm’s chief US equity strategist, discusses what’s ahead for US equities in 2020.
John Goldstein of Goldman Sachs discusses the firm’s sustainability goals over the next 10 years and explains the commercial opportunity across two core themes–climate transition and inclusive growth. Listen Now
Marshall Smith, global head of healthcare investment banking at Goldman Sachs, discusses how healthcare corporations are driving growth amid macro and industry-specific uncertainty. Listen Now
From the 2019 Builders + Innovators Summit, Goldman Sachs’ Jake Siewert and Gregg Lemkau join two founders to hear their stories and talk about the current environment for entrepreneurship. Listen Now
Goldman Sachs’ David Solomon reflects on his first year as CEO, along with key priorities looking ahead. Listen Now
A conversation with Dane Holmes, Goldman Sachs’ head of Human Capital Management, and two recent interns. Listen Now
Why Does Goldman Sachs President and COO John Waldron View Himself as COO First and President Second?
John Waldron demystifies his dual-role as Goldman Sachs President and COO. Listen Now
Marty Chavez of Goldman Sachs discusses how technology is re-shaping the future of financial services. Listen Now
In a special episode featuring Goldman Sachs’ newest podcast, Top of Mind at Goldman Sachs, Allison Nathan of Goldman Sachs Research interviews experts to dive into the divergence between falling bond yields and rising equity prices. Listen Now
Prachi Mishra, India chief economist for Goldman Sachs Research, Goldman Sachs, discusses the drivers behind India’s economy. Listen Now
Heath Terry of Goldman Sachs Research explains how ride-hailing and new businesses are poised to fuel a $7 trillion global mobility market. Listen Now
Heather Shemilt and Tom Leake of the Goldman Sachs Securities Division discuss the evolution of systematic investing and what’s next for the industry. Listen Now
Jeff Gido, global head of Goldman Sachs’ financial technology sector within the Investment Banking Division, shares his views on where we are in the “three waves of fintech” and what we can expect from next-generation fintech business models. Listen Now
Steve Strongin and Amanda Hindlian of Goldman Sachs’ Global Investment Research Division discuss the state of small businesses in America, and owners from the Goldman Sachs 10,000 Small Businesses program share their biggest challenges to growth. Listen Now
Francesco Garzarelli, co-chief markets economist of the Global Macro Research team, discusses the drivers of recent market volatility and how investors are viewing a strong US macroeconomic backdrop amidst expectations that the Fed will continue to raise interest rates. Listen Now
David Solomon, president and co-COO of Goldman Sachs, discusses the rise in passive investing, how technology is making the world more competitive and his 35-year career on Wall Street in this episode of Exchanges at Goldman Sachs. Listen Now
Hugo Scott-Gall, Lindsay Drucker Mann and Christopher Wolf of Goldman Sachs Research discuss differences between the generations that make up the bulk of US consumption on our podcast, Exchanges at Goldman Sachs. Listen Now
Michael Ronen and Dave Dase of the Goldman Sachs Investment Banking Division discuss the emergence of technology companies as key players in the media and telecom industries on this episode of our podcast, Exchanges at Goldman Sachs. Listen Now
On the this episode of our podcast, Exchanges at Goldman Sachs, John Goldstein of Goldman Sachs Asset Management explains why more and more money managers view environmental, social and governance factors as essential to a rigorous investing approach. Listen Now
Goldman Sachs Global Investment Research’s Steve Strongin and Charlie Himmelberg discuss market participants’ concerns of a liquidity drought, why market liquidity matters and what can be done to restore it. Listen Now