Goldman CEO Says Deal Comeback Set to Help Firm Exceed Targets

Goldman Sachs Group Inc. Chief Executive Officer David Solomon is betting a comeback in deals, and growth across its wealth management and alternatives business, will help the firm exceed its return targets.

“Now that there has been a change in the regulatory environment, boards and CEOs feel there is a greater likelihood that they can execute on strategic transactions to expand their scale or improve their competitive position,” Solomon wrote in a shareholder letter on Friday. Executives are taking a “much more front-footed approach” to deals, he added.

“We are confident in our ability to deliver on our through-the-cycle mid-teens ...