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Goldman Sachs to Exit Russia in Wall Street’s First Pullout

  • Firm’s credit exposure to the nation is about $650 million
  • Bank is ‘closing out pre-existing obligations in the market’
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WATCH: Goldman Sachs is leaving Russia.Source: Bloomberg
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Goldman Sachs Group Inc. said it plans to close its operations in Russia, the first major Wall Street bank to leave in response to the nation’s invasion of Ukraine.

“Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements,” the company said Thursday in an emailed statement. “We are focused on supporting our clients across the globe in managing or closing out pre-existing obligations in the market and ensuring the well-being of our people.”