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Goldman's Trading Turnaround Plan Takes Back Seat to Lending

  • Firm sees $2 billion in new revenue from loan emphasis
  • Fixed-income plans could generate $1 billion over three years
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Goldman's Co-COO Sees FICC Growth Opportunity

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Investors have been waiting for Goldman Sachs Group Inc.’s strategy to turn around its fixed-income trading operation. What overshadowed that Tuesday was a plan to expand in a business that’s been mostly a sideline.

Lending to wealthy clients and consumers through an online bank, as well as other loans, could bring in $2 billion of new revenue over the next three years, twice as much as a revamp of the firm’s storied bond-trading business, Co-President Harvey Schwartz said in a presentation.