Bloomberg Talks Goldman Sachs International CEO Richard Gnodde Talks European Growth
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Jan 23, 2025 Richard Gnodde, CEO of Goldman Sachs International, dives deep into the current European economic landscape. He describes the mood in boardrooms as bleak, with companies favoring investments in the U.S. over Europe. Gnodde highlights challenges in retaining talent and fostering culture amid regulatory frustrations. The discussion also touches on the importance of diverse financing and the untapped potential in Europe, contrasting it with the optimistic outlook in the U.S. for entrepreneurs. This conversation unveils the complexities of navigating investment trends across continents.
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European Growth Frustration
- European CEOs feel frustrated by the lack of growth in Europe.
- Many invest in the US due to better opportunities, but want to invest in Europe.
Investment Trends
- European and international investors are both spending more in the US.
- They are also staying put in Europe, anticipating restructuring and consolidation.
Private Credit Ambitions
- Goldman Sachs aims to double its private credit assets.
- This is a crucial financing source for clients, adding to the capital markets union concept.