News Formal

Goldman Sachs mulls sale of investment advisory unit — undoing David Solomon strategy

  • 📰 nypost
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 67%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

The Wall Street investment giant is looking to offload its Personal Financial Management unit, which manages around $29 billion in assets.

and rank-and-file employees who have been put off by his leadership style — as well as his moonlighting as an amateur disc jockey — as Goldman’s earnings have plunged this year.

Goldman Sachs is looking to sell off its investment advisory unit — a move that would undo CEO David Solomon’s attempt to expand the bank’s clientele beyond the ultra-rich.“We see continued opportunities to invest in this segment but with less strategic impact to GS.” Sixth Street is said to be leading a consortium that includes KKR, PIMCO, and CardWorks in bidding for GreenSky,Goldman is likely to take a large writedown for GreenSky.

 

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:

 /  🏆 91. in CA

Canada Canada Latest News, Canada Canada Headlines

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

Goldman Sachs names 6 electric vehicle stocks set to beat the 'intense competition'Competition in the electric vehicle industry is getting fiercer. Goldman sees two groups of companies prevailing, naming six such stocks.
Source: CNBC - 🏆 12. / 72 Read more »

Goldman Sachs is exploring sale of investment advisory unit - reports By Investing.comGoldman Sachs is exploring sale of investment advisory unit - reports
Source: Investingcom - 🏆 450. / 53 Read more »