Balanced News: Goldman CEO says asset management is the new growth engine, will learn from bungled consumer effort

Goldman Sachs is a large financial institution that has been struggling recently with its consumer finance division, which has resulted in the resignation of its CEO. The CEO, David Solomon, has said that the growth engine for the bank will be asset management and wealth management. The company is planning to hold its second-ever investor day later Tuesday and is releasing a slideshow for the event online. The targets for growth in these divisions and the 2025 break-even target for the money-losing platform solutions division are being reiterated. The CEO has said that the bank is weighing “strategic alternatives” for its consumer platforms, which could mean a further retrenchment from retail banking or restructure its card agreements with Apple or General Motors.