Mergers and acquisitions are seeing a resurgence so far in 2024, but some of the top bankers on Wall Street are being careful not to overhype the dealmaking revival.
Goldman Sachs (GS) CEO David Solomon said Tuesday at a UBS financial services conference that “it’s gotten better” compared with “super anemic” activity during parts of 2022 and 2023.
However, Solomon does not expect investment banking to climb back to historical averages over the last decade.
Goldman Sachs CEO David Solomon. REUTERS/Brendan McDermid/File Photo (Reuters / Reuters)
JPMorgan Chase (JPM) chief financial officer Jeremy Barnum also poured some cold water on dealmaking expectations, acknowledging “some momentum” while also citing headwinds from lingering geopolitical uncertainty and aggressive antitrust scrutiny from Washington.
“Not the most conducive” M&A environment, he said at the same UBS financial services…
