A Goldman Trading Desk That Once Had 500 People Is Down to Three

Solomon discusses the firm’s growth initiatives, culture and current investor sentiment with Bloomberg Television.(Source: Bloomberg)

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By Sonali Basak and Christopher Palmeri

April 30, 2018 at 5:19 PM UTC

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Many Wall Street traders are concerned about being replaced by machines in the future, but at one Goldman Sachs Group Inc. unit it’s already happened.

“Equity trading: 15-20 years ago we had 500 people making markets in stocks. Today we have three,” Goldman Sachs President David Solomon said Monday at the Milken Institute Global Conference in Beverly Hills, California.