• Goldman Sachs expansion to target UHNW, HNW clients
    Financial Planning

    Goldman Sachs expansion to target UHNW, HNW clients

    Mark Kauzlarich/Bloomberg Goldman Sachs will pour resources into growing its wealth business serving the ultrarich, a pivot as it retreats from a disappointing venture into consumer banking, executives said during the bank’s investor day Tuesday.  “There’s a lot of opportunity for us to grow, and we’re going to continue to grow on the high end and the ultrahigh end,” Marc Nachmann, the global head of the bank’s Asset & Wealth Management unit, said in a presentation live-streamed online.  The investment bank occupies around 8{9f99fe44fce1aa3c813d0a0ce4da2fbea8a5a58e9d85c4a2927dd8140cb676b5} of the ultrahigh net worth wealth market and roughly 1{9f99fe44fce1aa3c813d0a0ce4da2fbea8a5a58e9d85c4a2927dd8140cb676b5} of the high net worth market in the U.S., according to Nachmann’s slideshow.  Nachmann projected that…

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