David Solomon, chief executive of Goldman Sachs, has warned New York City’s leaders they cannot take its position as a global business destination for granted and that higher taxes threaten to make it less appealing for companies and their employees.
In an interview at the Financial Times’ Global Banking Summit, Solomon said “New York is not going away” but cautioned “it’s also not guaranteed for any urban centre that you have a permanent place in the world”.
“New York has to be aware that there are good choices, and it’s got to make sure it keeps itself super-attractive,” Solomon said. “At the end of the day, incentives matter, taxes matter, cost of living matters.”
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