Goldman Sachs shakes up business units ahead of quarterly results

FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the New York Stock Exchange in New York, U.S., December 18, 2018. REUTERS/Brendan McDermid

The latest changes are part of a broader strategic overhaul under Chief Executive Officer David Solomon, who is looking to build a bigger consumer business to shield revenue from wild swings in financial markets that have pressured its trading arm. Goldman renamed its institutional client services business as global markets, while investment management will now be called asset management. The bank is also doing away with its investing and lending unit, it said in a regulatory filing.

“The new reporting structure appears more centered around its different client segments and should help drive increased accountability in how it executes on its relatively new strategy,” Barclays analyst Jason Goldberg said.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Most overpriced stocks in the market to avoid, 20% drop: Goldman Sachs - Business InsiderGoldman Sachs says these 10 stocks are dangerously overvalued and could tumble 20% — and their list includes Apple, which they see plunging 35% this year GoldmanSachs disclosing the stocks they shorted. Lololololol I always believe GSCO 🙄 'Short my shorts bitches'.
Source: BusinessInsider - 🏆 729. / 51 Read more »