Oct 18 (Reuters) – Goldman Sachs Group Inc () unveiled a plan to reorganize its business into three units in another overhaul in less than three years by the Wall Street giant, which also reported a smaller-than-expected 44% slump in third-quarter profit on Tuesday.
The bank will now have three operating segments – asset and wealth management, global banking and markets, and platform solutions.
Following is the leadership structure at Wall Street’s foremost investment bank in the newly organized units:
Asset & Wealth Management (AWM): The new unit integrates the bank’s investing and wealth activities into a single business
Global Banking & Markets (GBM): Integrates Goldman’s investment banking and global markets into a single business
Platform Solutions: The bank’s new business will bring together its fintech platforms including GreenSky, that Goldman bought in a $2.2 billion deal in 2021
Source: Goldman Sachs
Reporting by Manya Saini, Niket Nishant, and Noor Zainab Hussain in Bengaluru and Saeed Azhar and Lananh Nguyen in New York
Editing by Nick Zieminski
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