Goldman Sachs CEO rejects working from home as ‘new normal’

David Solomon, CEO at American investment group Goldman Sachs, has referred to remote working as an “aberration”, rejecting the idea that working from home is now expected to be the “new normal”.

During a conference yesterday, Mr Solomon said he is eager for the bank’s employees to return to the office, after operating throughout 2020 with “less than 10 per cent of our people” in the office, believing that remote working doesn’t suit the bank’s work culture.

“I do think for a business like ours, which is an innovative, collaborative apprenticeship culture, this is not ideal for us. And it’s not a new normal. It’s an aberration that we’re going to correct as soon as possible,” he said.

Mr Solomon added, “I am very focused on the fact that I don’t want another class of young people arriving at Goldman Sachs in the summer remotely,” worrying that an incoming group of around 3,000 new employees will miss out on getting valuable “direct mentorship”.

While the CEO’s beliefs are at odds with many other giants – particularly tech companies who are eager to support this new way of working – they do align with others operating in the finance sector, such as Barclays, whose boss also hopes that employees will return to the office once the COVID-19 vaccine has been widely administered.