Goldman Sachs Looks to Asset Management After Struggling with Consumer Platforms

Goldman Sachs, one of the most influential Wall Street banks, is considering a strategic change in its consumer platforms business. According to the Financial Times, the company is exploring potential alternatives to the business, which includes its online consumer banking platform Marcus.

In a recent CNBC interview, Goldman Sachs CEO David Solomon said the real opportunity for the company lies in asset and wealth management. He also acknowledged that the company has “bungled” its consumer effort, but believes that asset management is the new growth engine for Goldman.

The Financial Times has also reported that Goldman Sachs has lost its way in recent years, and is struggling to find a new direction. The company is now relying on its CEO Solomon to plot a path forward with its “make-or-break” consumer platforms business.

The future of Goldman Sachs’ consumer platforms business remains uncertain, but the company is taking steps to ensure a successful outcome. With its CEO at the helm, the company is hoping to find a viable solution that will lead to sustainable growth and profitability.

View Full Coverage on USNN for more information on Goldman Sachs’ strategic alternatives and the future of its consumer platforms business.