GOLDMAN SACHS GROUP (GS) Company Report

Invested $500 million over three years and relocated its Mumbai banking team to a larger Worli office after a global board meeting in New Delhi.
Climbed to 4th in Indian equity offerings, surpassed Morgan Stanley in stock sales for the first time in a decade, and ranked among the top five M&A advisers.
Secured at least 10 IPO mandates amid a record $22 billion Indian IPO pipeline and is expanding into private credit, structured finance, and alternatives.
Participated in a $600 million financing for Jubilant Bhartia Group, while its alternatives business has invested $8.5 billion+ in India since 2006.
Relocated 130 bankers, traders, and private-markets staff to its new Mumbai office to boost local capacity.

Feb 11, 2026, 12:19 AM

Bloomberg

Goldman Sachs outlines 2026 strategy at UBS Financial Services Conference

Guidance Update

M&A

Goldman Sachs continues execution of its early-2020 plan, emphasizing a One Goldman client-centric model, expanded financing capabilities, and the integration of asset and wealth management into a $3.5 trn AWM platform now growing >10% annually with raised margin targets.
CEO David Solomon highlights structural macro tailwinds in 2026—sustained fiscal stimulus, deregulatory shifts, a technology supercycle, and expected populist measures—supporting M&A and capital markets activity, albeit with policy and geopolitical uncertainties.
The firm expects meaningfully higher strategic and sponsor M&A as corporates seek scale and private equity faces LP redemption pressure, alongside improving debt and equity capital markets volumes driven by AI infrastructure financing needs.
Asset & Wealth Management targets $75–$100 bn of annual fee-based alternative inflows, aiming for $750 bn fee-based AUM by 2030 through ultra-high net worth expansion and third-party distribution partnerships.

Feb 10, 2026, 1:00 PM

Transcript

Goldman Sachs outlines 2026 growth strategy at UBS conference

Guidance Update

M&A

The firm’s multi-year plan since 2020 has emphasized client centricity, increased financing capacity and the creation of a unified Asset & Wealth Management platform overseeing over $3.5 trillion in AUM, now growing at double-digit rates.
Updated medium-term targets for Asset & Wealth Management include expanding margins from 25% to 30%, underpinned by $75–$100 billion of annual alternatives fundraising and continued capital efficiency gains.
Management expects a constructive 2026 for M&A and capital markets driven by fiscal stimulus, deregulation and a technology supercycle, while acknowledging potential volatility and “speed bumps” during the year.
The Markets business maintains a disciplined focus on wallet share, ranking top three in 123 of its 150 largest client relationships and continually addressing underperformance at the sector level.
Goldman remains open to selective inorganic opportunities in Asset & Wealth Management to accelerate growth, subject to cultural fit and regulatory considerations.

Feb 10, 2026, 1:00 PM

Transcript

Goldman Sachs outlines growth strategy and market outlook at UBS Financial Services Conference 2026

New Projects/Investments

M&A

Goldman Sachs has executed a six-year growth plan focused on One Goldman Sachs client centricity, increased financing capabilities and the integration of Asset & Wealth Management into a single platform supervising over $3.5 trillion AUM, targeting high-single-digit revenue growth and raising margin targets from 25% to 30%.
The firm completed three strategic Asset & Wealth Management deals in 2025: a retirement JV with T. Rowe, acquisition of Innovator to secure a top 10 active ETF position, and purchase of iVentures to enhance its ultra-high-net-worth wealth offering.
Goldman expects strong 2026 market tailwinds from sustained fiscal stimulus, U.S. deregulation, a technology supercycle and populist fiscal measures, while acknowledging potential speed bumps from policy uncertainty, inflation and geopolitics.
M&A activity is forecast to be top-quartile, driven by strategic corporate scale pursuits and accelerating sponsor deals, alongside an improving IPO pipeline as large private companies seek public markets.
The firm is prepared to deploy excess capital into high-impact Asset & Wealth Management transactions, benefitting from a regulatory environment that favors diversification into more durable, fee-based businesses, while maintaining rigorous cultural and risk standards.

Feb 10, 2026, 1:00 PM

Transcript

Goldman Sachs Group-backed OSL Group launches USDGO enterprise stablecoin

Product Launch

OSL Group launched USDGO, a regulated, enterprise-grade U.S. dollar stablecoin, minting an initial $50 million on Solana.
USDGO is 1:1 backed by U.S. dollars and high-quality liquid assets, including U.S. Treasuries, and is issued by Anchorage Digital Bank N.A..
The stablecoin is designed for corporate settlement and cross-border payments across Asia, with plans to expand to additional blockchains to enhance global liquidity.
Anchorage Digital Bank is the issuer, while OSL Group serves as branding operator and distributor; in Hong Kong, distribution is via OSL Digital Securities Limited.

Feb 10, 2026, 11:26 AM

Press Release

Goldman projects record US IPO proceeds

Delisting/Listing Issues

M&A

Goldman strategists forecast U.S. IPO proceeds could hit $160 billion in 2026, driven by pent-up demand, boardroom confidence and accommodative policy.
Late-stage tech and AI issuers, led by SpaceX’s potential $1.5 trillion valuation and mega-listing ambitions, are expected to dominate the pipeline.
The number of IPOs may double, with software and healthcare firms leading, though recent software sell-offs and market volatility present valuation and issuance risks.
To date in 2026, roughly $5 billion has been raised via IPOs, including listings by Forgent Power and Eikon Therapeutics.

Feb 9, 2026, 1:39 PM

Bloomberg

Goldman Sachs raises bonus pools alongside peers following 2025 rebound

Executive Compensation

Revenue Acceleration/Inflection

Goldman Sachs, JPMorgan Chase and Bank of America raised banker and trader bonus pools by at least 10% after dealmaking and trading activity rebounded in 2025.
Combined investment-banking revenue reached $25.7 billion (up ~12%) and trading revenue was $87.7 billion (up ~16%) in 2025.
The three banks reported their largest annual profit since 2021, underpinning the increased payouts.
Firms are stressing cost discipline and leveraging AI to improve efficiencies and manage compensation structures.

Feb 6, 2026, 4:52 PM

Bloomberg

Goldman Sachs invests in LearnWell

New Projects/Investments

On Feb. 4, 2026, Goldman Sachs’ Sustainable Investing business made a strategic investment in LearnWell to support its growth in K-12 academic and mental health services.
LearnWell delivers academic continuity and behavioral health support to over 51,000 students across 7,700 school districts, providing 629,000 annual hours of instruction.
The partnership will leverage Goldman Sachs Alternatives’ resources to expand service offerings, accelerate growth, and amplify social impact.
Harris Williams and Whiteman Osterman & Hannah served as financial and legal advisors to LearnWell; Latham & Watkins advised Goldman Sachs.

Feb 4, 2026, 2:10 PM

Press Release

Goldman Sachs issues $2.5 billion 5.387% fixed-rate reset subordinated notes due 2041

Debt Issuance

$2.5 billion aggregate principal amount of 5.387% Fixed-Rate Reset Subordinated Notes due 2041 issued under the company’s shelf registration (Form S-3) on February 2, 2026.
Notes bear interest at 5.387% per annum through February 2, 2036, then reset to the Five-Year Treasury Rate plus 1.180% (subject to a 0% floor and NY law cap).
Issuance made pursuant to the Subordinated Debt Indenture dated February 20, 2004 (as supplemented), with The Bank of New York Mellon serving as trustee.
Sullivan & Cromwell LLP opined that the notes are valid and legally binding obligations of Goldman Sachs under applicable law.

Feb 2, 2026, 9:23 PM

8-K

Goldman Sachs promotes seven to management committee

Management Change

Seven partners, predominantly from Asset & Wealth Management (AWM), were added to the senior management committee, highlighting a strategic shift toward fee-based AWM businesses overseeing ~$3.6 trillion in assets.
AWM delivered record asset growth and a 16% rise in private banking and lending revenue in 2025, and accounted for ~30% of Goldman’s post-provision revenue at year-end 2025.
The management committee expanded into the mid-40s, with Vice Chairman Richard Gnodde and Asset Management Chairman Rich Friedman stepping down.
Goldman Sachs’s shares increased by ~1.2% in trading following the announcement.