1、Annual Report2023THE GOLDMAN SACHS GROUP,INC.1Fellow Shareholders:Twenty twenty-three was a year of execution for Goldman Sachs.We took swift,decisive action to refocus the firms strategy while at the same time strengthening our core businesses,and Im proud of the progress we made.We put the firm in

2、 a stronger position for 2024 and beyond,as we continued to execute on our growth strategy,serve our clients with excellence and deliver for our shareholders.As we enter 2024,our strategy is centered on our two core businesses,where we have proven our “right to win”with our leadership positions,scal

3、e and exceptional talent,and as CEO,I am focused on our three strategic objectives:Harness One Goldman Sachs to serve our clients with excellence.Runworld-class,differentiatedanddurablebusinesses.Invest to operate at scale.Theres no ambiguity about who we are a preeminent global investment bank,serv

4、ing the most important companies,institutions and individuals in the world and were playing to our strengths as a trusted advisor,proven risk manager and experienced asset manager.ANNUAL REPORT 2023LETTER TO SHAREHOLDERSJohn WaldronPresidentandChiefOperatingOfficerDavid SolomonChairmanandChiefExecut

5、iveOfficerDenis Coleman ChiefFinancialOfficer3Enhancing the Strength of Our FranchiseOne reason Im excited about the future is the strength of our core franchise.We have two world-class and interconnected businesses:Global Banking&Markets,which comprises our top-ranked investment bank1 as well as FI

6、CC and Equities,and Asset&Wealth Management,a leading global active asset manager with a top 5 alternatives business2 and a premier ultrahigh net worth wealth management franchise.Over the past year,we have continued to enhance our franchise.In Global Banking&Markets,we have maintained and strengthe