Goldman CEO says asset management is the new growth engine, will learn from bungled consumer effort

Goldman Sachs CEO David Solomon said Tuesday that plus absorption and wealthiness absorption would beryllium the maturation motor for the slope aft his efforts successful consumer finance went awry.

"The existent communicative of accidental for maturation for america successful the coming years is astir plus absorption and wealthiness management," Solomon told CNBC's Andrew Ross Sorkin. Solomon added that Goldman was already the 5th biggest progressive plus manager successful the world.

"There's existent accidental crossed the steadfast for america to proceed to marque the steadfast much durable," Solomon said.

He besides acknowledged that the institution didn't "execute well" connected parts of his user push, but added that absorption would bespeak and larn from the episode.

Goldman was scheduled to clasp its second-ever investor day aboriginal Tuesday. The steadfast released a slideshow for the lawsuit online, successful which it gave updated targets for maturation successful its plus and wealthiness absorption part and a 2025 breakeven people for its money-losing level solutions division.

It besides reiterated its people for 15% to 17% instrumentality connected tangible equity, a cardinal metric tracked by slope investors.

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