Now Goldman is the one underperforming. Though it’s still No. 1 in mergers and acquisitions and IPO dealmaking, its revenue has declined 6% since 2010, to $36.6 billion in 2018, and is on track to decline further this year.
Its stock has lagged both the financial sector and the S&P 500 over the past five years—yielding the worst returns of any major U.S. bank. It is also facing its biggest reputational crisis since the backlash against its too-big-to-fail bailout famously led to its caricature as a “vampire squid.”
Two former Goldman Sachs executives have been indicted for conspiring in a multibillion-dollar theft from the Malaysian investment fund known as 1MDB, a scandal that could cost Goldman as much as $5 billion to settle.
Source: Goldman Sachs CEO David Solomon Is Shaking Things Up at Wall Street’s Most Storied Bank | Fortune