It’s the eighth straight quarter the bank has seen a year-over-year profit decline.
Compared to its peers, Goldman’s success is tied closely to its banking and trading business meaning a slowdown in deal making and a down market have an outside impact on the bank.
“I also expect a continued recovery in both capital markets and strategic activity if conditions remain conducive. As the leader in M&A advisory and equity underwriting, a resurgence in activity will undoubtedly be a tailwind for Goldman Sachs.” The bank has re-focused its efforts on building out its asset and wealth management group — and in a positive sign for the division, AWM collected a record amount of fees this quarter.Ready for an emergency? Expert survivalists swear by these emergency kitsCustomers outraged over Winklevoss twins' secret $282M crypto withdrawal: 'You didn't tell anyone'
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