Goldman Sachs Group Inc on Tuesday unveiled a growth plan that could add as much as $5 billion in revenue annually, as the bank seeks to reassure investors after two poor trading quarters in a row. The growth initiative, which is not dependent on an overall improvement in the market environment, can be realized in the next three years and could contribute up to $2.5 billion in pre-tax earnings, Goldman president Harvey Schwartz said during a Barclays Group PLC financials conference in New York.

The plans represent a marked shift for a firm that historically has given its shareholders little information about how it makes its money. But investor frustration particularly around the firm's fixed income trading performance has tested Goldman's time-tested "black box" strategy, Reuters reported in August .

"These are things that generally might give you a sense of what's happening under the hood at Goldman Sachs," Schwartz said. Schwartz devoted significant time detailing growth priorities within fixed income, which during the second quarter reported a 40 percent drop in revenue.

Copyright Reuters, 2017