Sharing Some Thoughts on the Evolving Landscape

The following email was sent to all employees of Goldman Sachs by David Solomon, Chairman and Chief Executive Officer.

Sharing Some Thoughts on the Evolving Landscape
March 1, 2020

Over the last few weeks there has been increased uncertainty, which is reflected in the significant volatility we and our clients are seeing in the markets.  We have managed through volatile markets before – it’s core to what we do. We know that it is essential for us to stay focused and remain close to our clients. That’s exactly what our Goldman Sachs teams around the world have been doing, and I am deeply appreciative of your work ethic, excellent execution and relentless dedication to serving our clients.

Our ability as a firm to stay the course during particularly demanding periods is a testament to the strength of our teams and to our spirit of partnership.  Our global and regional business continuity planning teams have been working closely together to review our comprehensive action plans related to our people, buildings, processes and technologies, so as to ensure the continuity of our business.

It’s possible that this global health situation could become more difficult — but there’s nothing more important to John, Stephen and me than ensuring the health and safety of our people, and we are confident that Goldman Sachs is appropriately prepared. You can expect that we will continue to mobilize the full resources of the firm to support each of you in the weeks and months ahead.  We also hope that you continue to take all necessary precautions for you and your family, and in that vein, you should not feel obligated to travel.

I ask that you remain diligent in reading the To Alls from Laurence Stein, our chief administrative officer, as well as the messages sent to you by our Wellness, Global Security and divisional and regional leadership teams – just yesterday, we shared updated precautionary measures, including a new restriction on non-essential international travel. In addition, please consult the COVID-19 site on GSWeb regularly.

To my colleagues in areas that have been most impacted, you have set an example of how to remain resilient. We know how difficult it has been for some time for you and your families, and we draw on the strength and quiet confidence you have already demonstrated.

This week, I’ll be spending time with our people in our London office, and I look forward to connecting with many more of you in the weeks ahead.