Apr
19
Blankfein’s Decade Ending With a Thud on a Humbled Wall Street
By
Lloyd Blankfein.
Photographer: Simon Dawson/Bloomberg
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Goldman posts worst first-quarter revenue of CEO’s tenure
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Firm’s 6.4% return on equity falls below cost of capital
To see how Wall Street has changed over the past decade, look to Goldman Sachs Group Inc. under Lloyd C. Blankfein.
The company, once the most profitable securities firm, reported the lowest first-quarter revenue of Blankfein’s tenure as chief executive officer, which began June 2006. Return-on-equity, a closely watched measure of profitability, fell to 6.4 percent, well below where it needs to be to show investors the firm can create value…
Blankfein’s Decade Ending With a Thud on a Humbled Wall Street
