Goldman Sachs projects a $70 billion revenue base as it scales its Asset & Wealth Management unit and expands its alternatives and ETF capabilities through strategic acquisitions.
Goldman Sachs projects its revenue base to rise to roughly $70 billion and expects Asset & Wealth Management to grow faster than its target, with alternatives fundraising above prior guidance.
Goldman Sachs formed a partnership with T. Rowe Price to expand retirement distribution and alternatives access, which could modestly benefit TROW.
Goldman Sachs CEO David Solomon announced the firm expects its annual revenue base to reach $70 billion, driven by robust growth in its Asset & Wealth Management division. The firm is leveraging strategic partnerships, including a new deal with T. Rowe Price, and expects to exceed its $125 billion fundraising target for alternative assets this year.
Growth is primarily driven by the Global Banking & Markets and Asset & Wealth Management divisions, supported by increased operating leverage and a more diversified business mix.
The partnership is designed to expand Goldman's reach into retirement distribution channels and increase the firm's access to alternative investment opportunities for retirement-focused investors.