Goldman Sachs CEO says economic recovery will be rapid at first then challenged

Business

Goldman Sachs Group Inc’s (GS.N) Chief Executive David Solomon said on Wednesday that he expects the U.S. economic recovery to look V-shaped at first, but for that rapid growth to flatten out and become more challenged in the next 6 to 12 months.

Speaking at a Bloomberg conference, Solomon said roughly 5% of the bank’s staff have returned to work at its New York headquarters and 10-12% of staff are back at the office in London.