Goldman Sachs Leaves Russia

J.P. Morgan is hiring senior bankers and traders as other firms cut

By David Solomon, chair and chief executive of Goldman Sachs

Our hearts go out to the Ukrainian people and all those standing in harm’s way – their bravery and resilience are an inspiration to the world.

None of us can fail to see this for what it is: the invasion of a sovereign state, as flagrant a violation of international law as any we’ve seen in recent memory. Hundreds of thousands have been forced to flee their homes, Ukrainian cities have suffered massive destruction, and already there has been tragic loss of life. I know that this remains an extremely daunting and difficult time for many of our people, as well as for family and friends. As a leadership team, we continue to support our people through dedicated guidance and resources for our colleagues in impacted areas.

In addition, our firm has been focused on how we can help communities impacted by the conflict. We announced a $2 million commitment to organizations providing emergency assistance to Ukrainian families, such as food, clothing and hygiene kits, as well as vital medical care and other forms of support to people who have to leave their homes. Our commitment builds on the donations already made to date via Goldman Sachs Gives, our donor-advised fund.

Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements. We are focused on supporting our clients across the globe in managing or closing out pre-existing obligations in the market. As we navigate this fluid and challenging environment, I want to thank all of our people for their hard work and diligence.

Source: Goldman Sachs

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