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Goldman Sachs developing in-house private bank

Posted By admin On July 18, 2012 @ 8:14 am In Money Watch | Comments Disabled

AFP [1]
July 18, 2012

Goldman Sachs said Tuesday it is developing its private bank for wealthy clients, particularly in fast-growing countries and in Europe, where it hopes to pick up the slack from struggling local banks.

“We’ve been in the wealth business for a long time,” said David Viniar, Goldman’s chief financial officer, said in a teleconference.

With certain European banks retrenching amid the eurozone debt crisis, he said, “there are some of our clients that need dollar funding.”

“We’re growing the private bank out of the US,” he said, noting that today it was “very small but something we intend to grow very rapidly.”

Full article here [1]

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URLs in this post:

[1] AFP: http://www.rawstory.com/rs/2012/07/18/goldman-sachs-developing-in-house-private-bank/

[2] Goldman Sachs Names European Banks It Paid Amid AIG’s U.S.-Funded Bailout: http://www.prisonplanet.com/goldman-sachs-names-european-banks-it-paid-amid-aigs-u-s-funded-bailout.html

[3] Goldman Sachs and Occupy Wall Street’s bank: the real story: http://www.prisonplanet.com/goldman-sachs-and-occupy-wall-streets-bank-the-real-story.html

[4] Goldman Sachs Rules The World; Bank of England Next: http://www.prisonplanet.com/goldman-sachs-rules-the-world-bank-of-england-next.html

[5] Cyprus MPs vote down government raid on private bank accounts in defiance against IMF and EU central bank: http://www.prisonplanet.com/cyprus-mps-vote-down-government-raid-on-private-bank-accounts-in-defiance-against-imf-and-eu-central-bank.html

[6] What price the new democracy? Goldman Sachs conquers Europe: http://www.prisonplanet.com/news-business-business-analysis-features-what-price-the-new-democracy-goldman-sachs-conquers-europe.html

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