Top banker by day, DJ by night: a career comes to a sad end

THE Financial Times article in accordance to the pinnacle of Goldman Sachs, David Solomon has determined to cease DJing, after some critics stated his pastime was a distraction from operating a Wall Street financial institution. So what started as a facet pastime to brighten Solomon’s public picture has change into a lightning rod for criticism of him inside Goldman from bankers disgruntled by strategic errors and decrease pay.

According to the newspaper, the final notable occasion the place the 61-year-old Solomon was a DJ was in July 2022 at Lollapalooza, a four-day music competition in Chicago. Goldman spokesman Tony Fratto informed the Financial Times:

This isn’t information. David hasn’t DJed publicly at an occasion in effectively over a 12 months. The music didn’t distract from David’s work. Media consideration turned a distraction.

Fratto added.

Solomon’s disc jockey “career” has beforehand drawn scrutiny from Goldman’s board, as some have been unsettled by his determination in 2019 to carry out at Tomorrowland, a Belgian music competition identified for heavy drug use.

Solomon apologized to Goldman’s board in 2020 after he DJed at an occasion in New York’s Hamptons that 12 months that was criticized for flouting social distancing guidelines through the Covid-19 pandemic.

Solomon’s curiosity in DJing started greater than a decade in the past, when he was engaged on a Las Vegas on line casino financing deal. According to him, he donated the proceeds from his performances to charities combating addictions.

During his career as a disc jockey, he carried out below the stage title DJ-D Sol, a nickname that later caught with him in public.

Solomon was named Goldman’s chief govt in 2018, however the previous 12 months has been essentially the most difficult for Goldman after a variety of senior executives left the financial institution as income fell. Goldman Sachs will report its third quarter outcomes subsequent week.