The Goldman Sachs Group, Inc. (NYSE:GS) Q2 2024 Earnings Conference Call July 15, 2024 9:30 AM ET

Company Participants

David Solomon - Chairman and Chief Executive Officer
Dennis Coleman - Chief Financial Officer

Conference Call Participants

Glenn Schorr - Evercore
Ebrahim Poonawala - Bank of America
Betsy Graseck - Morgan Stanley
Brennan Hawken - UBS
Mike Mayo - Wells Fargo Securities
Steven Chubak - Wolfe Research
Devin Ryan - Citizens JMP Securities
Dan Fannon - Jefferies
Matt O'Connor - Deutsche Bank
Gerard Cassidy - RBC
Saul Martinez - HSBC

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' Second Quarter 2024 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 audiocast 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, July 15th, 2024.

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

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

David Solomon

Thank you, operator, and good morning, everyone. Thank you all for joining us.

I want to begin by addressing the horrible act of violence that occurred over the weekend, the attempted assassination of former President Trump. We are grateful that he is safe. I also want to extend my sincere condolences to the families of those who were tragically killed and severely injured. It is a sad moment for our country. There is no place in our politics for violence. I urge people to come together and to treat one another with respect, civility, dignity, especially when we disagree. We cannot afford division and distrust to get the better of us. I truly hope this is a moment that will spur reflection and action that celebrate, that celebrate what unites us as citizens and as a society.

Turning to our performance. Our second quarter results were solid. We delivered strong year-on-year growth in both global banking and markets and asset wealth management. I am pleased with our performance where we produced a 10.9% ROE for the second quarter and a 12.8% ROE for the first-half of the year. We continue to harness our One Goldman Sachs operating approach to execute on our strategy and serve our clients in dynamic environments.