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Goldman Sachs CEO's growth strategy gets traction with board-sources

The 12-member board of directors is intensely focused on Solomon's refreshed strategy, one of the two sources told Reuters, after the firm's foray into the consumer banking business saddled Goldman with losses and left if lagging rival Morgan Stanley. The expected arrival of Tom Montag, who was approached by Solomon, also signals to insiders that the chief executive and his turnaround plans have internal support at the top, separate sources said.
United States New Delhi David Wagner Megan Davies Saeed Azhar A Goldman Sachs
Source: yahoo.com

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AI startups bringing dollars but lean workforces to ailing San Francisco

In a frenzy unseen since the birth of social media in the early 2000s, investors are pouring billions into generative AI and fueling a startup boom in San Francisco. But the rapid growth of the artificial-intelligence business may not be a panacea for the city's economic and commercial real-estate woes, according to a dozen tech industry professionals interviewed by Reuters. Unlike past tech booms that have touched San Francisco, the generative AI craze brings fewer jobs, because AI ...
United States United Arab Emirates San Francisco Matthew Lewis Mike Grabowski Matt Schlicht
Source: yahoo.com

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