The transformation of Goldman Sachs Group Inc. into a bank holding company will not change its strategy, according to a slide presentation prepared to accompany remarks by chief executive Lloyd Blankfein at an investor conference Tuesday.
Goldman and Morgan Stanley converted to bank holding companies this fall as investors worried about the investment banks' business models and financing.
In the third quarter, leveraged loans and commercial and residential real estate loans were reduced to 82% of its tangible common equity. Goldman said leverage has not been a driver of its return on equity.
