Goldman Sachs delays launch of new private wealth platform

As a result of the corona crisis, the US bank has decided to postpone the launch of a platform to manage the money of clients with smaller private fortunes.

Photo: Brendan Mcdermid/Reuters/Ritzau Scanpix

The corona crisis has led to a more cautious approach at one of the world's largest banks, which is now postponing an important launch.

The Financial Times reports that Goldman Sachs is now waiting until 2021 to launch a platform to help clients with over EUR 4,500 (USD 5,000) in investable private fortunes to manage their money. The platform will build upon the bank's 2019 purchase of United Capital, which cost the bank EUR 680 million (USD 750 million).

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