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Investors await Goldman's $5 billion answers as trading picks up

Reuters  |  NEW YORK 

By Catherine NgaiNEW YORK (Reuters) - Goldman Sachs Group Inc's GS.N trading division was caught "wrongfooted" last year, bracing for a return of volatility that did not materialise on financial markets, Chief Executive Officer Lloyd Blankfein said on Tuesday.The trading division also was overdependent on one certain client base that became less active, Blankfein said, although he did not specify which client base that was."I would say, we, last year, braced for a return of volatility and it didn't come out," Blankfein told investors. This and the lack of activity from the client base caught ...

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First Published: Tue, February 13 2018. 20:37 IST