Goldman Sachs plans to fold its biggest businesses into three divisions, undertaking one of biggest reshuffles in the Wall Street firm’s history.
Goldman GS, -2.31% will combine its flagship investment-banking and trading businesses into one unit, while merging asset and wealth management into another, people familiar with the matter said. Marcus, Goldman’s consumer-banking arm, will be part of the asset- and wealth-management unit, the people said.
A third division will house transaction banking, the bank’s portfolio of financial-technology platforms, specialty lender GreenSky, and its ventures with Apple Inc. and General Motors Co., the people said. The reorganization could be announced within days, the people said. Goldman is scheduled to report third-quarter earnings Tuesday.
It is unclear how the makeover will shake up Goldman’s senior leadership team, though at least a few executives will have new roles, the people said. Marc Nachmann, the firm’s co-head of trading, will slide over to help run the combined asset- and wealth-management arm, they said.Company documents show Meta’s flagship metaverse falling short.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman Sachs sees deeper UK recession after tax U-turn, Bloomberg reportsGoldman Sachs analysts have downgraded Britain's economic outlook after Prime Minister Liz Truss removed Kwasi Kwarteng as chancellor and reversed a freeze in corporation tax, Bloomberg News reported on Sunday.
Read more »
Anne Hathaway says viral Anna Wintour-‘Devil Wears Prada’ fashion week moment was complete coincidenceHathaway's outfit channeled Andy Sachs, her character in the 2006 film.
Read more »
Goldman Sachs sees deeper UK recession after tax U-turn, Bloomberg reportsGoldman Sachs analysts have downgraded Britain's economic outlook after Prime Minister Liz Truss removed Kwasi Kwarteng as chancellor and reversed a freeze in corporation tax, Bloomberg News reported on Sunday.
Read more »
Strategist at Southeast Asia's Largest Bank DBS Says Bitcoin Is Unique Regardless of Price – Featured Bitcoin NewsAn investment strategist at Southeast Asia's largest bank, DBS, says bitcoin is unique whether the price changes or not. crypto cryptocurrency $BTC
Read more »
Why Bitcoin is Still a Great Opportunity According to DBS BankDBS Bank's investment strategist and senior vice president, Daryl Ho, thinks Bitcoin is still a great opportunity. Here is why.
Read more »
From reindeer tourism to accessible fishing, Alaska entrepreneurs throw new ideas into the Shark TankReindeer tourism, a via ferrata in Juneau, fishing trips designed to be more accessible to those with disabilities: These were some of the travel and tourism ideas Alaska entrepreneurs pitched to industry leaders at a recent trade show.
Read more »