Mon. Mar 20th, 2023

Goldman Sachs CEO David Solomon mentioned Tuesday that asset administration and wealth administration can be the expansion engine for the financial institution after his efforts in shopper finance went awry.

“The true story of alternative for development for us within the coming years is round asset administration and wealth administration,” Solomon advised CNBC’s Andrew Ross Sorkin. Solomon added that Goldman was already the fifth-biggest energetic asset supervisor on the earth.

“There’s actual alternative throughout the agency for us to proceed to make the agency extra sturdy,” Solomon mentioned.

He additionally acknowledged that the corporate did not “execute effectively” on components of his shopper push, however added that administration would mirror and study from the episode.

Goldman was scheduled to carry its second-ever investor day later Tuesday. The agency launched a slideshow for the occasion on-line, by which it gave up to date targets for development in its asset and wealth administration division and a 2025 break-even goal for its money-losing platform options division.

It additionally reiterated its goal for 15% to 17% return on tangible fairness, a key metric tracked by financial institution traders.

Throughout opening remarks for his investor convention, Solomon mentioned the financial institution was weighing “strategic alternate options” for Goldman’s shopper platforms.

That might imply an additional retrenchment from retail banking if Goldman decides to promote its GreenSky lending enterprise, which it acquired simply final yr for $2.24 billion, or restructure its card agreements with Apple or Normal Motors.

It might additionally resolve to do nothing amid efforts to make the division worthwhile, mentioned an individual with information of the matter.

The disclosure appeared so as to add higher uncertainty across the financial institution’s go-forward technique round its smallest enterprise. When an analyst requested Solomon in regards to the strategic connection between shopper lending and different operations, the CEO mentioned there was little so as to add past what they’ve mentioned.

“I respect that everybody desires extra solutions on the buyer platforms and their trajectory going ahead,” Solomon mentioned.

In response to a different query, Solomon mentioned the financial institution wasn’t looking for so as to add partnerships past the Apple and GM card merchandise.

Goldman can also be planning to search out consumers for a portfolio of shopper loans created by the now-shuttered Marcus loans enterprise, mentioned Marc Nachmann, international head of asset and wealth administration.

Shares of the New York-based firm slipped 2.1% in noon buying and selling.

By Admin

One thought on “Goldman CEO David Solomon says asset administration is the brand new development engine”
  1. online casino sites online casino slots online casino with 5 minimum deposit paddy power casino panda casino party casino paypal casino paypal casino nz paysafe casinos pelaa casino pelican casino planet 7 casino planet casino platinum casino platinum casino login platinum play casino nz platinum play casino platinum play online casino platinumplay mobile casino play casino online play casino play online casino for real money playamo casino players palace casino playgrand casino playojo casino playzee casino login playzee casino poli casino poli pay casino poli payment casino powerplay casino prime casino prism casino punt casino punt casino no deposit bonus quality casinos quatro casino login quatro casino queenstown casino raging bull casino login raging bull casino no deposit codes raging bull casino rapid casino real money casino games real money casino nz real online casino red dog casino red flush casino red stag casino regent casino rich casino 25 free spins rich casino login rich casino no deposit bonus rich casino rich ruby casino risk casino risk com casino river belle casino nz river belle mobile casino riverbelle casino login riverbelle casino riverbelle online casino rizk casino rizk casino login rizk casino nz rizk online casino rotorua casino roulette casino game royal ace casino royal casino royal casino login royal casino online royal panda casino royal vegas casino royal vegas casino login royal vegas casino nz royal vegas casino nz login royal vegas mobile casino royal vegas online casino ruby casino ruby fortune casino login ruby fortune casino mobile ruby fortune casino nz login ruby fortune casino nz ruby fortune mobile casino login ruby fortune online casino ruby red casino ruby slots casino safe online casino safe online casino nz seven sultans casino silver edge casino silver oak casino silveredge casino silveredge casino login silversands casino sky casino auckland sky casino online sky casino sky city casino sky city casino dress code sky city casino nz sky city casino online sky city casino play online sky tower casino skycity casino auckland skycity casino games skycity casino hamilton skycity casino login skycity casino online nz skycity casino online skycity casino queenstown skycity online casino login skycity online casino no deposit bonus skycity online casino skycity online casino nz skycity online casino reviews slotjoint casino slotjoint casino login slotnite casino slotnuts casino login slotocash casino slots 7 casino sloty casino spartan casino spartan slots casino spela casino spin casino spin casino login spin casino login nz spin casino mobile spin casino mobile login spin casino no deposit bonus spin casino nz spin casino nz login spin casino online spin city casino spin city casino login spin city casino nz spin city casino nz login spin city online casino spin palace casino login spin palace casino mobile spin palace casino mobile login spin palace casino nz spin palace casino nz login spin palace casino spin palace mobile casino nz spin palace online casino spinbit casino spinit casino spinyoo casino spinz casino springbok casino stakes casino star casino gold coast star casino star casino sydney sydney casino syndicate casino tangiers casino 100 free spins tangiers casino tangiers casino login thebes casino thebes casino login thebes casino no deposit bonus thunderbolt casino tiger casino tiger casino login titan casino top 10 online casino top online casino sites top online casinos nz top online casinos top paying online casino nz trada casino true blue casino true fortune casino twin casino bonus code twin casino login twin casino uk casino uk casino club vegas casino online vegas casino vegas kings casino vegas lounge casino vegas palms casino vegas palms casino nz vegas palms online casino vegas rush casino villento casino vip casino voodoo casino voodoo dreams casino voodoo dreams casino login voodoo dreams casino nz vulkan casino wazamba casino wellington casino west casino wheeling casino wheelz casino white lotus casino wild casino wild casino login wild jack casino wild joker casino wild tornado casino wildz casino wildz casino bonus code wildz casino login wildz casino no deposit bonus wildz casino nz wildz casino nz login wildz casino review william hill casino winner casino online winner casino winward casino winward casino login wombat casino www jackpot city com online casino yako casino yeti casino yukon casino yukon gold casino login yukon gold casino yukon gold casino nz login yukon gold casino nz yukon gold casino reviews zamsino casino zodiac casino 1 zodiac casino 1 deposit zodiac casino zodiac casino login zodiac casino nz login zodiac casino nz zodiac casino sign in zodiac casino sign up zone msn com en casino default htm

Leave a Reply