By Lars Mucklejohn
Goldman Sachs chief executive David Solomon said today he retired from his high-profile DJ hobby because it was becoming a media “distraction.”
Speaking at the Financial Times’ Global Banking Summit on Tuesday, Solomon said his music career had overshadowed his leadership of the US investment bank. He also pushed back against reports staff morale at the bank had taken a hit under his leadership.
Solomon’s management of Goldman Sachs had been drawn into question this year after the group’s profits slumped 60 per cent in the second quarter. Earnings were dragged down by falling earnings at its consumer business and losses on real estate investments.
The Goldman chief’s reportedly frequent use of private jets to travel to the Bahamas has also been called into question.
“My job is to lead the firm, my job is to make sure we deliver for shareholders,” Solomon said on Tuesday.
“I think, broadly speaking, morale at the firm is pretty good,” he added. “Is there noise sometimes from certain people? Absolutely. But I talk to a lot of CEOs who run big visible businesses… and it goes with the territory.”
Solomon quietly retired his famous DJ persona, once known as DJ-D Sol, in 2022. He had performed at major festivals and star-studded parties.
He said: “First of all, I’m very passionate about making music, I’m very passionate about the hobby. It was clear that the press was making it into a distraction.”
Solomon added that he typically performed publicly eight times a year and gave the proceeds to charities mainly related to addiction and mental health.
He noted that he still enjoyed DJing privately and performed at his daughter’s wedding in October.
