Lloyd Blankfein on Goldman: "firm is committed to growing in China.."
Goldman Sachs CEO Lloyd Blankfein sat down with Bloomberg TV anchor Erik Schatzker at the company’s annual meeting in Salt Lake City. Blankfein said that the firm is committed to growing in China even after it ended a seven-year investment in ICBC:
“ICBC is not the key to our interest in China, or the big reflection of it. We’re investing in China because China — I was going to say it’s the future, but it’s a big part of the present as well.”
Blankfein said he is surprised by the lack of mergers and acquisitions this year:
“In the big transaction and M&A set, it’s still a very quiet, surprisingly quiet market…For a market in which interest rates are fairly low, rising equity prices, and as much liquidity as we know exists, deal flow is unusually low for the part of the cycle that we’re in.”