The Goldman Sachs Group, Inc. (NYSE:GS) Q4 2023 Earnings Conference Call January 16, 2024 9:30 AM ET

Company Participants

David Solomon - Chairman and Chief Executive Officer

Denis Coleman - Chief Financial Officer

Conference Call Participants

Glenn Schorr - Evercore

Ebrahim Poonawala - Bank of America

Brennan Hawken - UBS

Mike Mayo - Wells Fargo Securities

Devin Ryan - JMP Securities

Ryan Kenny - Morgan Stanley

Daniel Fannon - Jefferies

Matt O'Connor - Deutsche Bank

Gerard Cassidy - RBC Capital Markets

Steven Chubak - Wolfe Research

Operator

Good morning. My name is Katie and I will be your conference facilitator today. I would like to welcome everyone to the Goldman Sachs Fourth Quarter 2023 Earnings Conference Call. On behalf of Goldman Sachs, I will begin the call with the following disclaimer. The earnings presentation can be found on the Investor Relations page of the Goldman Sachs website and contains information on forward-looking statements and non-GAAP measures. This audio cast is copyrighted material of The Goldman Sachs Group, Inc. and may not be duplicated, reproduced, or rebroadcast without consent. This call is being recorded today, January 16th, 2024.

I will now turn the call over to Chairman and Chief Executive Officer, David Solomon, and Chief Financial Officer, Denis Coleman.

Thank you. Mr. Solomon, you may begin your conference.

David Solomon

Thank you, operator, and good morning, everyone. Thank you for joining us. 2023 was a dynamic year. The US economy proved to be more resilient than expected, despite a number of headwinds to growth, including a significant tightening of financial conditions, regional bank failures, and an escalation of geopolitical tensions.

Against this backdrop, this was the year of execution for Goldman Sachs. In addition to narrowing our strategic focus, we further strengthened our core businesses. As we enter 2024, the potential for rate cuts in the first half of this year has renewed optimism for a soft landing. We are already seeing signs of potential resurgence in strategic activity, which is reflected in our backlog.

I am starting today's presentation with a strategic update, and Denis will provide comments on the financial results. Beginning on page one, we aspire to be the world's most exceptional financial institution, united by our shared value client service, partnership, integrity, and excellence. And over the last 155 years, we have created one of the most aspirational brands in financial services.

Goldman Sachs is a preeminent global investment bank and a leader across asset and wealth management. We've continued to simplify our strategy, and today is an opportunity to take stock of our progress, as well as highlight avenues for further growth. Strategic objectives on this page underscore our relentless commitment to serve our clients with excellence and to further strengthen our client franchise.