Goldman Sachs shakes up business units ahead of quarterly results

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

Goldman Sachs Group Inc said on Tuesday it renamed its main business units ahead of its quarterly results next week, as part of the Wall Street ...

REUTERS: Goldman Sachs Group Inc has overhauled its main business units ahead of its quarterly results next week, the Wall Street bank said on Tuesday, as it seeks to provide investors with greater transparency into its financial performance.

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."The biggest changes appears to be the elimination of 'Investing & Lending', an area that investors viewed as a low multiple business. Those revenue sources were divided up across its new business units," he added.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSÄ°NESS

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.

Goldman Sachs renames business units ahead of quarterly resultsGoldman Sachs Group Inc said on Tuesday it renamed its main business units ahead of its quarterly results next week, as part of the Wall Street ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Goldman Sachs renames business units ahead of quarterly resultsGoldman Sachs Group Inc said on Tuesday it renamed its main business units ahead of its quarterly results next week, as part of the Wall Street ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US stocks shake off early weakness to end higherNEW YORK: Wall Street stocks shrugged off early weakness and pushed higher on Monday (Jan 6) as investors weighed whether escalating US-Iran ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »