Goldman to cut exposure to alternative investments
The Wall Street giant plans to divest its positions over the next few years and replace some of those funds on its balance sheet with outside capital.
Source: afr.com
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Exclusive-Goldman Sachs To Cut Asset Management Investments That Weighed On Earnings
Goldman Sachs Group Inc's asset management arm will significantly reduce the $59 billion of alternative investments that weighed on the bank's earnings, an executive told Reuters.
Source: ibtimes.com
Analysis-Goldman Sachs' Consumer Pivot Solves One Question, But Makeover Raises More
Goldman Sachs Group Inc's strategy pivot has solved one problem for investors who didn't love its foray into consumer banking.
Source: ibtimes.com
Why Goldman Sachs is scaling back its consumer ambitions
Rather than trying to reach the masses, which proved to be expensive, Goldman is focusing on marketing its online banking platform to its existing pool of wealth management clients. The investment bank has learned that it's "better to play to our strengths," CEO David Solomon said Tuesday.
Source: americanbanker.com
Banks at Greater Reputational, Legal Risk From Global Climate Pledges
Canada’s big banks are starting to get nervous about the legal and reputational risks stemming from commitments made to global climate-related coalitions.
Source: theepochtimes.com