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Top related persons:
Goldman Sachs - 4 Goldman - 4 Andrew Kelly - 3 David Solomon - 3 Solomon - 3 Marcus - 3 Saeed Azhar - 3 Lananh Nguyen - 3
Top related locs:
New York City , New York U.S Ayco
Top related orgs:
New York Stock Exchange - 3 REUTERS - 3 United Capital Financial Partners - 3 Thomson - 3 Argus Research - 2 RIA - 2 Service - 1 United Capital - 1

Search resuls for: "Ayco"


6 mentions found


☆ Goldman Sachs bought Joe Duran's wealth business and sold it 3 years later. The ex-partner spills on leaving, his new venture, and 'not living up to everything possible.'
  + stars: | 2024-02-22 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +6 min
Three years prior, he had sold United Capital, a registered investment advisor, to Goldman Sachs for $750 million. Duran's mandate was to run United Capital as well as Ayco, the bank's workplace financial planning unit. Finding his next mountain to climbDuran described his time with Goldman Sachs as "a fantastic experience in almost every way." In working for nine months on that strategy, he realized how much the industry had changed since he sold United Capital in 2019. "He has been a good partner at Goldman Sachs, and we're excited to cross paths with him again soon."
Persons: —, Joe Duran, Goldman Sachs, David Solomon's, Duran, wasn't, Julian Salisbury, Dina Powell, McCormick, Goldman, it's, I've, United Capital Duran, Joe, Tucker, There's Organizations: Service, United Capital, Business, Goldman, Growth Partners, Ritz, Carlton, Westin, General Electric
☆ Goldman Sachs weighs selling part of wealth business in broad strategy revamp
  + stars: | 2023-08-21 | by ( Saeed Azhar | ) www.reuters.com   time to read: +3 min
The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. The purchase was aimed at broadening Goldman's client list beyond the ultra-rich, but the unit has remained a small part of the bank's wealth business. High net worth individuals - who would fall within the business Goldman is considering selling - typically have about $1 million to $10 million to invest. Goldman's wealth business has lagged behind rivals, including Morgan Stanley (MS.N), where CEO James Gorman built the wealth management arm through a series of acquisitions that generate steady income from fees. The bank plans to grow its core wealth business serving ultra-high-net-worth clients, reiterating aspirations from its investor day in late February.
Persons: Goldman Sachs, Andrew Kelly, David Solomon, Goldman, Stephen Biggar, They've, Biggar, RIA, Morgan Stanley, James Gorman, Solomon, Marcus, Saeed Azhar, Lananh Nguyen, Tom Hogue, Sharon Singleton, Jonathan Oatis, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Argus Research, RIA, United Capital Financial Partners, Thomson Locations: New York City , New York, U.S, Ayco
☆ Goldman Sachs weighs sale of part of its wealth business
  + stars: | 2023-08-21 | by ( Saeed Azhar | ) www.reuters.com   time to read: +3 min
The purchase aimed to broaden Goldman's client list beyond the ultra-rich, but the unit has remained a small part of the bank's wealth business. The potential divestments come after CEO David Solomon reorganized the firm into three units last year and scaled back ambitions for its loss-making consumer business. Goldman's wealth business has lagged rivals, including Morgan Stanley (MS.N), where CEO James Gorman built the wealth management arm through a series of acquisitions that generate steady income from fees. The bank plans to grow its core wealth business serving ultra-high net worth clients, reiterating aspirations from its investor day in late February. Other core wealth businesses include workplace financial planning through Ayco, and Marcus savings, Goldman said.
Persons: Goldman Sachs, Andrew Kelly, Goldman, RIABiz, David Solomon, Stephen Biggar, They've, Biggar, Morgan Stanley, James Gorman, Solomon, Marcus, Saeed Azhar, Lananh Nguyen, Tom Hogue, Sharon Singleton Organizations: New York Stock Exchange, REUTERS, GreenSky, RIA, United Capital Financial Partners, Argus Research, Thomson Locations: New York City , New York, U.S, Ayco
☆ Goldman Sachs weighs sale for part of its wealth business
  + stars: | 2023-08-21 | by ( Saeed Azhar | ) www.reuters.com   time to read: +2 min
The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Aug 21 (Reuters) - Goldman Sachs (GS.N) is weighing the sale of a part of its wealth business catering to high net worth clients, it said on Monday, as it shifts its focus back to serving the ultra-rich. The purchase aimed to broaden Goldman's client list beyond the ultra-rich, but the unit has remained a small part of the bank's wealth business. Goldman's private wealth unit oversees $1 trillion in assets for ultra-high net worth clients. The bank plans to grow its core wealth business serving ultra-high net worth clients, reiterating aspirations from its investor day in late February.
Persons: Goldman Sachs, Andrew Kelly, Goldman, David Solomon, Solomon, Marcus, Saeed Azhar, Lananh Nguyen, Tom Hogue Organizations: New York Stock Exchange, REUTERS, United Capital Financial Partners, Thomson Locations: New York City , New York, U.S, Ayco
☆ Why wealth management is Goldman Sachs' new 'crown jewel' with dealmaking at a standstill
  + stars: | 2023-01-18 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +5 min
CEO David Solomon acknowledged that a stronger wealth and asset management business would have helped the bank weather the storm. One of Solomon's three key priorities for Goldman Sachs is growing management fees in the asset and wealth management arm. Solomon touted the potential for its workplace wealth offering Ayco in October, but private wealth management is another opportunity. Of 43 job postings in asset and wealth management based in the US, 15 are within the private wealth unit. The wealth management business also boosts Goldman's other services, as the bank's co-head of asset management Julian Salisbury said in September.
☆ Goldman Sachs's CEO David Solomon concedes that some of his efforts to transform the powerhouse bank have not been paying off
  + stars: | 2022-10-18 | by ( Business Insider | ) www.businessinsider.com   time to read: +7 min
Goldman Sachs CEO David Solomon took major steps to restructure the Wall Street bank in 2020. This week he acknowledged that some of his bets, including consumer bank Marcus, are not paying off. Despite the move away from consumer banking, Solomon appears to want to continue to push into wealth management. In October, he said Goldman Sachs Asset Management has grown into the nation's fifth largest asset manager. "We also believe that reaching and serving employees in their workplace is a significant growth opportunity for Goldman Sachs," Solomon said on the third-quarter call.
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