Goldman Sachs To Double Lending To Ultra-Wealthy Clients By 2029 As Part Of Wealth Management Expansion Strategy
Portfolio Pulse from Benzinga Neuro
Goldman Sachs Group Inc. (NYSE:GS) plans to double its lending to ultra-wealthy private bank clients by 2029 as part of its wealth management expansion strategy. The bank aims to provide more loans for significant purchases and leverage against illiquid assets. This move aligns with Goldman Sachs' broader strategy to diversify its business beyond trading and investment banking.
June 13, 2024 | 12:18 pm
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Goldman Sachs plans to double its lending to ultra-wealthy clients by 2029, aiming to provide more loans for significant purchases and leverage against illiquid assets. This move is part of its strategy to expand wealth management operations.
Goldman Sachs' initiative to double lending to ultra-wealthy clients is a significant strategic move to bolster its wealth management operations. This could lead to increased revenues and a positive impact on the stock price in the short term.
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