CLAIM #28827 · GS (GS) · 2022Q3 earnings call · Oct 18, 2022 · due Dec 31, 2025
“We will continue to grow the deposit offering and the level of service that has generated over [$110 billion] of retail deposits.”
David Solomon · CEO
In context
“ved as a result. We serve over 15 million customers and generated more than $2.2 billion in revenues in the last 12 months. We've learned a lot in the six years since launching the deposit business, and this is shaping our execution priorities as we move forward. Turning to Page 6. For our direct-to-consumer strategy, we will focus on existing deposit customers and consumers that we already have access to through channels like Workplace and Personal Wealth rather than seeking to acquire customers on a mass scale. The purposeful change that will allow us to rationalize spend on future builds and customer acquisition costs. In Workplace and Personal Wealth alone, we already have the ability to reach over 9 million individuals. Our Marcus deposit customers remain core to our broader efforts. We will continue to grow the deposit offering and the level of service that has generated over [$110 billion] of retail deposits. We believe that all of our customers across all products will benefit from this reprioritization. Before I turn it over to Denis to go through the results for the quarter, I want to highlight the following. Over the last four years, this leadership team has been working hard to grow, diversify and strengthen Goldman Sachs. Our experience forms this new direction so that we can better serve our clients and amplify our strengths. This is an important and purposeful evolution of our strategic journey, setting us up to deliver on our targets and unlock shareholder value. Consistent with our strategy, we are focusing on the execution -- we're focusing our execution on 3 key priorities, as you can see on Page 7, which are to grow management fees, maximize wallet share and grow financing activit”
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SEC filings for GS ↗ · Claim quote is verbatim from the 2022Q3 earnings call.