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The transcript discusses Goldman Sachs' strategic decisions under David Solomon's management, focusing on acquisitions like United Capital and Green Sky. The bank aimed to expand beyond servicing ultra-high-net-worth clients to the mass affluent market, similar to its consumer banking strategy. However, these efforts did not yield the expected results, leading Goldman Sachs to refocus on its core strengths. The bank's aggressive return on equity target remains unmet, prompting a shift back to areas where it can execute well and drive profitability.

What was the significance of the acquisition of United Capital by Goldman Sachs?

How did Goldman Sachs' strategy change with the acquisition of United Capital?

What challenges did Goldman Sachs face in catering to the mass affluent market?

What was the return on equity target set by Goldman Sachs, and how did they perform against it?

What conclusion did Goldman Sachs reach regarding their focus after the United Capital acquisition?