Goldman Sachs Issues Statement on Share Repurchases

The Goldman Sachs Group, Inc. (NYSE: GS) issued the following statement on the Financial Services Forum’s announcement of last evening on members’ temporary suspension of share buybacks through the second quarter of 2020:

“This voluntary action, determined jointly by all member banks, positions Goldman Sachs to deliver greater capital and liquidity to our clients as they seek to navigate challenged markets. We have a deep appreciation for our responsibility to deliver the critical advice and solutions clients need no matter the market conditions, as we have throughout our history.”

“This pause is consistent with our announced policy on share repurchases, which permits us flexibility to adjust or suspend our activity as we deem appropriate.”

“The firm stands ready to deploy all of its resources in support of all of its constituencies as it engages with its corporate and institutional clients and makes specific accommodations for its consumer and small business customers.”

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals.  Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.