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Goldman Weighs Shrinking Fixed-Income Trading Group

  • Firm is aiming to make business mix more similar to rivals
  • Commodities one target for cuts, say people briefed on matter
Bloomberg business news
Goldman May Shrink Fixed-Income Trading Unit as Blankfein Defends Buybacks
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Goldman Sachs Group Inc. is considering plans to reduce the capital dedicated to its core trading business within the fixed-income group, a nod from the bank’s new chief that the business may not be as lucrative as in its glory days, according to people briefed on the matter.

The firm, which has been reviewing all business lines since David Solomon took over as chief executive officer in October, plans to devote more resources to lending to clients in the trading group to make its business mix more similar to rivals, said the people, who asked not to be identified because final decisions haven’t been made.