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Goldman to combine investment banking and trading businesses - WSJ

Reuters
·1 min read

Oct 16 (Reuters) - Goldman Sachs Group Inc plans to fold its biggest businesses into three divisions, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

Undertaking one of biggest reshuffles in the Wall Street firm's history, Goldman will combine its investment banking and trading businesses into one unit, while merging asset and wealth management into another, the report said.

Marcus, Goldman's consumer-banking arm, will be a part of the asset and wealth management unit, the report added. (Reporting by Lavanya Ahire and Akriti Sharma in Bengaluru; Editing by Sherry Jacob-Phillips)