- Goldman Sachs is holding its exclusive annual partners meeting in Miami Beach this week.
- This year, execs will be prepping for what’s expected to be a tough Investor Day on February 28.
- See the photos from inside the swanky five-star event space, which boasts beachfront views.
Despite the recent drumbeat of disappointing news, the partners of Wall Street powerhouse Goldman Sachs appeared upbeat Wednesday morning as they rubbed elbows at the bank’s exclusive annual conclave taking place at a chic five-star hotel in Miami Beach.
Goldman’s annual partners meeting seeks to unite its top executives from around the world so they can dine together, hear from exclusive speakers, and participate in strategy sessions. Goldman’s current partnership — an elite club who hold the bank’s highest rank under the C-Suite — has about 400 members worldwide.
Past partner retreats have boasted speakers like Barack Obama and Warren Buffett. This year, it’s taking place in Miami Beach where at least some partners will be using their time to prepare for the firm’s Investor Day on February 28, according to a person familiar with the schedule.
Goldman Sachs declined Insider’s request for comment.
The main events are unfolding in the Miami Beach Edition, described as a “luxury boutique design hotel” on its website with 70,000-square-feet of “pristine” beachfront property. The hotel is totally booked this week, but its cheapest rooms for this time next week go for about $900 a night, according to the website. A yogurt parfait goes for $19 in the hotel restaurant, and a capuccino is $9.
Some Goldman partners are also staying at the nearby Faena Hotel Miami Beach, sources said. The Faena is also completely booked this week with the cheapest room rates for this time next week are about $1,500, according to the website. A night in the penthouse, meanwhile, costs $60,000 per night.
The Edition, the Faena, and AC Marriot hotel, where Goldman partners are also staying, are all within blocks of each other and are situated north of the infamous South Beach, near a less commericial area called Mid-Beach.
In the 30-odd minutes between the partners’ breakfast and David Solomon’s scheduled talk at 9 a.m., hundreds of bankers behaved how you might expect them to — some took calls, pacing in circles while sipping coffee and talking into their AirPods, while others mingled in groups to talk business. One group of six or so bankers huddled around a lobby table and began talking strategy for a deal. In true “Wolf of Wall Street” fashion, a man began the conversation with: “We’re going to decide the fate of the free world in two minutes.”
See below everything we know about this year’s Goldman Sachs’ partners event in Miami.
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