Shulou(Shulou.com)11/24 Report--

October 17, according to foreign media reports, Goldman Sachs (Goldman Sachs) is planning a major restructuring, merging its largest business into three divisions, which is rumored to be one of the largest restructuring in the company's history.

Goldman merged its investment banking and trading operations into one unit, asset management and wealth management businesses into a second division, and trading banking and the bank's financial technology platform into a third division, according to people familiar with the matter. In addition, Marcus, Goldman's consumer lending platform, will be integrated into asset and wealth management.

It is reported that the restructuring plan may be announced in a few days, but it is not clear how the restructuring will adjust Goldman's senior leadership team.

Separately, Goldman Sachs is scheduled to report third-quarter results on Tuesday. Like its Wall Street rivals, the bank's third-quarter net profit is expected to fall sharply as investment banking revenues are severely affected by a sharp drop in trading volumes.

Analysts at Refinitiv expect Goldman to make a net profit of $2.77 billion in the third quarter, down from $5.38 billion in the same period last year.

Given the difficult operating environment, Goldman is closely reviewing all its forward spending and investment plans to ensure the best use of its resources, Barclays said in a recent report.

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