Goldman Sachs chairman and CEO David Solomon told CNBC’s Squawk Box that the firm is ‘‘set up for a stronger growth trajectory in the coming years’’ driven by expanding investment banking mandates and a rebound in fixed-income trading. Solomon pointed to a 15% increase in deal flow over the last quarter, driven by a resurgence in corporate M&A and capital markets activity. He emphasized that net revenues from institutional client services grew 8% year-over-year, while the firm’s transaction banking business added $120 billion in client deposits over the past twelve months. Solomon also highlighted the bank’s technology investments, noting that a $1 billion commitment to digital platforms has helped reduce trade settlement times by 20%.

In an internal memo circulated this week, Goldman Sachs announced the promotion of veteran retail banking executive Ben Frost to chairman of investment banking. Frost, who previously oversaw consumer retail banking and led the execution of two marquee transactions last year—a $14 billion leveraged buyout financing and a $9 billion convertible bond issuance—will now coordinate the firm’s advisory, underwriting and capital raising divisions. His appointment follows a 25% expansion in Goldman’s global M&A advisory revenue during his tenure. Frost succeeds the prior chairman after a decade, and will be responsible for integrating cross-border deal flow into the bank’s strategic growth plan.