New Online Bank From Goldman Sachs?
May not be the most anticipated news in the world just now, but Goldman Sachs, according to Wall Street Journal, is mulling an online-only bank. Why you may ask. According to this brief in Finextra, the new unit will seek deposits that can be used to fund future business initiatives. The retail banking market is unfamiliar territory for Goldman, which recently converted to a bank holding company and won a New York State banking charter. As well as opening an Internet bank, Goldman executives are also mulling plans to grow its deposit base by tapping its wealth management operations and large corporate clients. From here.