Goldman Sachs Asset Management May Exit Australia Equities Business
Goldman Sachs Asset Management is considering the sale of its Australian equities and fixed income businesses. Goldman’s Australian fund management business overseas about A$9 billion. If it goes ahead with a sale, Goldman will be following in the footsteps of Swiss bank UBS which offloaded its private bank in Australia last year after a review of its underperforming businesses.
“Goldman will be following in the footsteps of Swiss bank UBS which offloaded its private bank in Australia last year after a review of its underperforming businesses.”
It also would not be the first sale of this kind for Goldman Sachs in Asia. Last year, it sold its Indian fund management unit for $37.5 million.
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