In a memo to the firm's workforce, Solomon congratulated Trump, stating: "We look forward to working with the new administration in support of sound policies that enhance economic growth and financial stability." This highlights his optimism about collaboration with the Trump administration, emphasizing the importance of policies that align with Goldman Sachs' goals.
Wells Fargo stock analyst Mike Mayo expressed that Trump's victory is a "regulatory game changer" for the banking industry, anticipating that the administration could encourage increased M&A activity and IPOs, potentially reaching record levels.
Mayo further noted, "More free markets imply that investment banking revenues have a chance at exceeding 2021 levels over the next few years," indicating expectations for a strong financial market under Trump's presidency.
The biggest beneficiary of a potential dealmaking boom is expected to be Goldman Sachs, according to Mayo, who identifies the firm as poised to capitalize on the favorable market conditions created by the new administration.
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