The Goldman Sachs Group, Inc. (GS-PD)
- Reuters
UPDATE 4-GM in talks with Barclays to replace Goldman Sachs in credit card partnership -source
General Motors is in talks with Barclays for a credit card partnership deal that will replace existing partner Goldman Sachs, a source familiar with the matter told Reuters. Goldman Sachs has been looking for "strategic alternatives" for its consumer unit since last year after its CEO David Solomon decided to scale back the firm's retail ambitions in late 2022. The Wall Street Journal earlier reported that Barclays is the leading candidate to take over issuance of the credit cards, which have about $2 billion of outstanding balances.
- Reuters
GM in talks with Barclays to replace Goldman Sachs in credit card partnership -source
NEW YORK (Reuters) -General Motors is in talks with Barclays for a credit card partnership deal that will replace existing partner Goldman Sachs, a source familiar with the matter told Reuters. Goldman Sachs has been looking for "strategic alternatives" for its consumer unit since last year after its CEO David Solomon decided to scale back the firm's retail ambitions in late 2022. The Wall Street Journal earlier reported that Barclays is the leading candidate to take over issuance of the credit cards, which have about $2 billion of outstanding balances.
- Zacks
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