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Goldman Shakes Up Units in Fresh Push to Win Over Investors

  • Stephanie Cohen to co-lead consumer, wealth-management unit
  • Firm merges asset-management, merchant-banking operations
Stephanie Cohen
Stephanie CohenSource: Bloomberg Television
Updated on

Goldman Sachs Group Inc. shuffled its business lines and announced a raft of management changes, carving out new divisions aligned with a strategy pivot unveiled earlier this year.

The firm is combining asset management and merchant banking as part of its push to raise more client funds for investing instead of betting its own money. The bank also created a new consumer and wealth-management division co-led by Stephanie Cohen, one of the firm’s most-senior female bankers.