Goldman Sachs CEO David Solomon apologized to the Wall Avenue financial institution’s board for DJing a celebration within the Hamptons in the course of the peak of coronavirus pandemic lockdowns — a violation of social distancing tips, in line with a report.
Solomon, who moonlights as DJ D-Sol, apologized to Goldman’s board of administrators over the incident, the Monetary Occasions reported.
In the summertime of 2020, Solomon opened for the band The Chainsmokers at a charity profit within the Hamptons.
Revelers who attended the bash flouted social distancing guidelines that required folks to remain at the very least six ft aside in an effort to mitigate the unfold of the coronavirus.
The celebration in Southampton ignited outrage and prompted then-New York Gov. Andrew Cuomo to announce an investigation.
Goldman Sachs CEO David Solomon moonlights as DJ D-Sol.Getty Photographs for Casamigos
When he’s not main one of many world’s largest funding banks, Solomon performs as a DJ in music festivals, together with final month’s four-day Lollapalooza extravaganza in Chicago.
Solomon has gained a repute as a flamboyant Wall Avenue govt who likes to rub elbows with the wealthy and well-known.
He not too long ago appeared on the hit Showtime sequence “Billions” and he additionally made a cameo in a Netflix documentary about pop star Jennifer Lopez.
However Solomon’s management on the financial institution has come beneath scrutiny, notably because it pertains to his so-far fruitless efforts to diversify revenue streams.
Underneath Solomon, Goldman has tried its hand at client banking, asset administration and transaction companies to be able to compete with the likes of Morgan Stanley.
In accordance with FT, Goldman has but to show a revenue with its on-line banking division, Marcus, which was began up six years in the past.
The corporate is reportedly re-evaluating spending plans associated to Marcus.
Solomon most not too long ago performed a gig on the Lollapalooza music competition in Chicago final month.[“Getty Photographs for Protected & Sound”
Within the final 5 years, Goldman’s share worth has lagged behind Morgan Stanley. It’s also neck-and-neck with one other Wall Avenue rival JPMorgan Chase.
However very similar to the helm of predecessor Lloyd Blankfein, Goldman’s bread-and-butter stays buying and selling and funding banking, in line with FT.
Shortly after Solomon took over as CEO in 2018, he shocked Goldman officers by asking for a personal aircraft, in line with FT.