David Solomon, the CEO of Goldman Sachs, has rejected remote working as a “new normal” and labelled it an “aberration”.
Speaking at a conference this week, Solomon said the investment bank had operated throughout 2020 with “less than 10 per cent of our people” in the office.
Solomon said “obviously operating flexibility was very, very different” but pointed out that it was “a temporary thing”.
He added: “I do think that in 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 quickly as possible. And in particular, I'm very focused on the fact that I don't want another class of young people arriving at Goldman Sachs in the summer remotely.”
“At the end of the day,” said Solomon. “I’m a big believer in personal connectivity in a business like ours. And I don't think as we get out of the pandemic, the overall operating mode, the way of business like ours operates will be vastly different. There will be adjustments."
He added: “I think we're making progress on efficiency and the pandemic has allowed us to learn things about where there are opportunities to run more efficiently that we might not have seen had there not been a pandemic. But generally speaking, I think the world will have an accelerated digitalisation, and won't look too different in the context of how it is now, as we get past the pandemic.”