Goldman CEO David Solomon’s latest remix breaks up the bank’s struggling consumer finance business

The reorganization plan calls for Goldman Sachs four main divisions to be combined into three, according to people with knowledge of the plan.

These people said trading and investment banking will form Goldman's largest and most important division from a revenue perspective. Its money-losing consumer finance operations will be split between two new divisions, with parts of the Marcus-branded unit folded into a combined wealth and asset management business and other parts going into a division that focuses on corporate clients, the people said.Goldman Sachs' Chairman and CEO David Solomon attends a session at the 50th World Economic Forum annual meeting in Davos, Switzerland, January 21, 2020.

Goldman's money-losing consumer finance operations will be split between two new divisions, with parts of the Marcus-branded unit folded into a combined wealth and asset management business and other parts going into a division that focuses on corporate clients, the people said. That division, called Platform Solutions, will house Goldman's nascent digital corporate cash management business, recently acquired

Remix…get it? It’s funny because he’s a DJ

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Goldman plans major overhaul, to combine investment banking and trading -WSJGoldman Sachs is planning a major reorganization as part of which its storied investment banking and trading businesses will be combined, while consumer banking will be absorbed by its wealth unit, the Wall Street Journal reported on Sunday. ChineseWalls anyone? At least this way GoldmanSachs can stop pretending (it wants) CWs to work.
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