Golden opportunities ahead for Goldman Sachs in China

By Chen Jia (China Daily) Updated: 2015-11-02 08:35

"We hope to keep our people for the long-term," he said. "Our value extends beyond business and commerce.

"One of the core values of Goldman Sachs is in philanthropy," he added. "We want to contribute funds and expertise in all of the communities where we work around the world."

Apart from client focus and team work, diversity and inclusiveness are other core values at the group.

"We are very proud to operate as one of the most successful multi-cultural organizations anywhere in the world," Schwartz said.

"We are an inclusive organization and we give everyone in the firm the same opportunities, regardless of nationality, ethnicity, religious back-ground or sexual preferences.

"In China, beside the above values, a long-term commitment to the country is the key for business success here," he added.

Schwartz joined the Investment Banking Division of Goldman Sachs in 1979. He then left the company in 2001 to become CEO of Soros Fund Management LLC before moving back to Goldman Sachs as vice-chairman of the group in June 2012.

Looking to the future, he is convinced these are exciting times for the company and the country.

"We expect China to lower the market access threshold for foreign financial institutions so that we can compete on an equal footing with local financial companies," he said.

"As the size of Chinese economy continues to grow, business opportunity will increase, which in turn will allow us to expand even with a limited share of the market," he added.