Tuesday, 01 August 2017 00:00

Goldman is in an Unfamiliar Place—Last

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(New York)

Goldman Sachs has long been the most storied banking business on Wall Street and has often found itself ahead of its competitors. Therefore, where it finds itself now is a surprise—last place at its own game. While other banks have pulled back from trading, Goldman has kept it a centerpiece of its business. But despite doing so, the bank’s trading division has been hurting lately, with fixed income trading down 40% in the most recent quarter. In response, the bank is going on a charm offensive, talking to all its major clients to find out how they can do better, and in doing so, improve their image as being more customer-friendly.

FINSUM: Finding out why you are losing market share and how you can improve is a good way to turn around the business. That said, this development makes us wonder if Goldman’s recent trading woes are symptomatic of a larger problem rather than just the ebb and flow of trading volume.

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