Goldman CEO Predicts 2025 Dealmaking to Outpace 10-Year Averages

Goldman Sachs CEO David Solomon expressed strong optimism for 2025, suggesting that dealmaking activity could surpass the decade-long average. Speaking at the Reuters NEXT conference on December 10, 2024, Solomon highlighted that the first 100 days of the incoming administration would be critical in determining the stance on trade, immigration, energy, and tax policies. This expected shift, coupled with the growing confidence among bankers post the U.S. presidential election, is set to boost investment banking activities.

The bank has already demonstrated significant momentum, notably advising on the $36 billion merger of Cheez-It maker Kellanova and Mars. While Goldman Sachs refocuses on solid areas such as investment banking and trading, Solomon also flagged regulatory challenges, specifically around cryptocurrency trading. Recent supplemental reports indicate a broader market optimism—with Wall Street banks anticipating a robust deal environment under pro-growth policies—and even hint at a cautious openness to strategic acquisitions in asset and wealth management as part of the bank’s evolving strategy.