Goldman Sachs Fourth-Quarter EPS Misses as FICC Trading Revenue Climbs

The transcript discusses the MDB charge and core trends in investment banking, highlighting Goldman's reporting changes and their impact on financial analysis. It covers debt fees, market strength, and interest rates, noting the strong performance of US banks. The discussion also touches on litigation provisions related to Goldman Sachs and future expectations for settlements and market volatility.

What was a significant change in Goldman's reporting that affected performance comparisons?

• Increase in investment banking fees

• Reduction in workforce

• Introduction of new financial products

• Change in reporting structure

What factor contributed to the strong performance in the financial sector this quarter?

• Reduction in competition

• Increase in debt fees and primary activity

• Decrease in interest rates

• Expansion into new markets

What is a potential concern for the financial sector in the coming year?

• Decrease in US issuance

• Growth in European markets

• Stable interest rates

• Increase in US issuance

What was a major reason for the shortfall in Goldman's EPS expectations?

• Expansion in European markets

• High litigation provisions

• Strong wealth management performance

• Increase in M&A fees

What division is currently the shining star in Goldman's consumer and wealth division?

• Mergers and Acquisitions

• Wealth Management

• Fixed Income

• Investment Banking