Goldman Sachs CEO David Solomon's Bold Bet: Asset Management

Goldman Sachs is shifting its focus towards asset and wealth management as it seeks sustainable sources of growth. CEO David Solomon has positioned the bank to take advantage of the rise of alternative assets and the growing fortunes of the ultra-rich. However, concerns have been raised about a brain drain at the firm after the departure of key executives. Goldman's asset management division has been making progress against its fee and fundraising goals, with the bank on track to generate at least $10 billion in fee revenue by next year. While the transition will take time, Solomon remains optimistic about the strategic decisions being made.