EconomyEditor's PickNewsGoldman Sachs streamlines asset, consumer, wealth management units

2 years ago405 min
https://topinvestingtoday.com/wp-content/uploads/2021/12/cover-9-1280x813.jpg
imageStock Markets1 hour ago (Sep 29, 2020 12:40PM ET)

(C) Reuters. A view of the Goldman Sachs stall on the floor of the New York Stock Exchange

NEW YORK (Reuters) – Goldman Sachs Group Inc (N:GS) on Tuesday named new chiefs of its asset management and consumer and wealth management divisions as part of a broader restructuring of those businesses, effective Jan. 1.

The merchant banking and asset management businesses will be merged into a unit led by Eric Lane and Julian Salisbury, it said in a statement. Lane is global co-head of the bank’s consumer and investment management division. Salisbury serves as global head of merchant banking.

The private wealth and consumer businesses will be combined into a unit led by Tucker York and Stephanie Cohen. York is head of wealth management, while Cohen is the bank’s chief strategy officer. Russ Hutchinson, head of financial institutions M&A in the Americas, will become chief strategy officer.

Chief Executive David Solomon, who succeeded Lloyd Blankfein in October 2018, has been reshaping the bank, shifting its focus away from volatile trading into more stable businesses.

Solomon has streamlined the bank’s structure into four main businesses – investment banking, trading, asset management and consumer banking.

Harit Talwar will step down as global head of Goldman’s Marcus consumer bank, to be replaced by Omer Ismail. Talwar will become chairman of the consumer business.

Goldman Sachs streamlines asset, consumer, wealth management units

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Reply

Your email address will not be published. Required fields are marked *