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

📆 22/08/2023 00:59:00
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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.

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