Solomon Sees Vaccine Bringing Goldman Staff Back by Year-End

Goldman Sachs Group Inc. Chief Executive Officer David Solomon said he expects to have all his employees back at their offices by the end of the year as the vaccine rollout ramps up.

“The big focus right now is we’ve got to get people vaccinated — we’ve got to get to the other side,” Solomon said in a Bloomberg Television interview Tuesday. “I certainly would expect a lot of Goldman Sachs employees back in full by the end of the year. We will get through this, and I’m really hopeful that over the course of the next six months we see a real improvement.”

The Goldman CEO said he’s encouraged by the amount of vaccine production, but flexible, efficient ways need to be found to get shots distributed, which he believes will be the biggest challenge facing President-elect Joe Biden’s administration. In addition to government actions, the private sector can play a role in speeding up vaccinations, he said.

“There’s still work to be done,” he said. “And once we deal with the vaccine and the virus, and people feel safe, we’re still going to have to deal with the economic consequence of the shutdowns and the impact on our economy that this pandemic’s had.”

Solomon said he’s not concerned about the short-term “gyrations” of the stock market, and that the results of today’s election in Georgia — and resulting control of the Senate — will help give investors the certainty they want. Efforts in Congress to overturn the results of the November presidential election are a “distraction” before Biden is inaugurated on Jan. 20, he said.

“It’s important for us to get focused on the tasks that are at hand,” Solomon said. “We have to get through the pandemic. We have to help those in need in the economy. We have to get the economy running again.”

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