Goldman CEO says asset management is the new growth engine, will learn from bungled consumer effort
Publishing timestamp: 2023-02-28 12:14:38
Summary
Goldman Sachs CEO David Solomon said Tuesday that asset management and wealth management would be growth engine for bank after his efforts in consumer finance went awry. He also acknowledged that company didn't "execute well" on parts of his consumer push, but added that management would reflect and learn from episode. Goldman was scheduled to hold its second-ever investor day later Tuesday and released a slideshow for the event online. The firm is also weighing "strategic alternatives" for its consumer platforms, which could mean further retrenchment from retail banking.
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