Goldman Sachs President John Waldron expressed optimism about the investment banking sector's prospects during an investor conference on May 29, 2025. He highlighted a robust global pipeline for mergers, acquisitions (M&A), and capital-raising activities, noting a 30% increase in large deals—those exceeding $500 million—year-to-date, despite market volatility influenced by U.S. tariff policies.

Waldron acknowledged that while the second quarter's activity has been slower than the first, the bank has remained active in significant M&A transactions. He also pointed to early signs of recovery in the commercial real estate sector, with renewed opportunities for financing recapitalization. Additionally, Waldron discussed the firm's extensive succession planning and selective hiring process, emphasizing confidence in Goldman Sachs' ability to meet its return targets for investors.

In November 2024, Goldman Sachs Chairman David Solomon stated that there would be an increase in capital raising and M&A activities in 2025, attributing this expected growth to the new U.S. administration's policies aimed at stimulating economic growth. Furthermore, in February 2025, Solomon expressed openness to acquisitions in the asset and wealth management sectors, emphasizing a highly selective approach to such deals.

The investment banking sector's outlook is influenced by various economic and political factors. The return of President Donald Trump to the White House has been expected to drive economic growth and reduce regulations, fostering a positive environment for corporate dealmaking and investment activity. However, uncertainties related to U.S. tariff policies have introduced market volatility, affecting the timing and execution of deals.

Goldman Sachs has been focusing on its core areas of investment banking and trading while fostering growth in asset and wealth management sectors. The firm has expressed openness to strategic acquisitions in these areas, with a highly selective approach to ensure alignment with its growth strategy.

Despite market uncertainties, Goldman Sachs remains optimistic about its investment banking prospects, demonstrating resilience and strategic foresight in navigating the current economic landscape.