One of Wall Street’s biggest investment banks wants to lend you some money.
Goldman Sachs [fortune-stock symbol=”GS”], long the bank of big companies and large, wealthy investors is now looking to attract regular consumers and small businesses as clients, according to a report in The Wall Street Journal.
Harit Talwar, a former credit-card executive, has spent the past few weeks assembling a team of employees to manage the new initiative, according to the newspaper, and he will soon present his plan to senior Goldman executives.
Why the focus on smaller clients? The Journal says it’s part of a broader move on Wall Street toward consumer and business lending. That line of business is becoming more significant to banks “as regulation and capital rules crimp profit at other units, most notably trading,” the report said.
Also, the digitization of the financial services industry means dealing directly with individual…
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