The news: Goldman Sachs is considering selling or restructuring part of its consumer business as it recovers from the expensive, loss-generating digital bank venture Marcus, per Business Insider.
Mixed signals: CEO David Solomon admitted the bank’s attempt to attract main street consumers didn’t go as planned at the bank’s 2023 Investor Day.
- He hinted at a reorganization or sale of the bank’s consumer lending business, but other executives discussed a path to profitability for the unit.
- When asked for clarification, Solomon said the bank is “looking at all strategic options available" and “executing on what's in front of us.”
Read the original article on Business Insider