Goldman Sachs Group Inc has appointed Akila Raman as chief commercial and strategy officer of transaction banking within its newly formed Platform Solutions unit, according to an internal memo seen by Reuters on Thursday.
The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kellyhas appointed Akila Raman as chief commercial and strategy officer of transaction banking within its newly formed Platform Solutions unit, according to an internal memo seen by Reuters on Thursday.
Raman joins the unit from within the bank, where she recently served as chief operating officer of investment banking, the memo said. In October, Goldman scaled back ambitions for its direct-to consumer bank Marcus by placing it under the newly-merged asset and wealth division. It also swept parts of the business into a new unit called platform solutions, which houses transaction banking, credit cards and financial technology.
Platform Solutions suffered a net loss of $1.67 billion last year, the bank said, due to higher provisioning for potential bad loans.The Wall Street bank has been beefing up the new unit with hires such as Zeeshan Razzaqui who recently became co-head of merchant point-of-sale lending at the unit. ETF Accelerator, which is headed by Lisa Mantil, also became part of Platform Solutions recently. The business enables its clients to launch, list, and manage their exchange traded funds .
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed Preview: Signal about future rate hikes hold the key – Goldman SachsEconomists at Goldman Sachs provide a sneak peek at what they expect from the upcoming February US Federal Reserve (Fed) monetary policy decision. Key
Read more »
Goldman Sachs downgrades Funko, cites risks to toymaker's long-term growth plansGoldman Sachs downgraded Funko to sell from neutral, citing the risky nature of its multi-year earnings target.
Read more »
What to know about the Wagner group, a 'brutal' Russian military group fighting in UkraineThe U.S. is increasingly focused on denouncing the Wagner group, a 'brutal' paramilitary group aiding Russian forces in Ukraine. Here's what to know about the group the U.S. has labeled a 'criminal organization.'
Read more »
Breakingviews - Goldman’s Marcus is a lesson in self-made failureIf David Solomon is taking the blame for the demise of Goldman Sachs’ upstart digital bank, it’s partly by accident. Almost all the other executives who publicly championed the project known as “Marcus by Goldman Sachs” departed the $120 billion Wall Street bank long ago. Even so, with the firm now on the back foot, and Solomon’s pay last year cut by 30%,it falls to the boss to try and recover lost ground.
Read more »
Gap Inc. Steps Up Outsourcing Its Supply ChainThe $16 billion San Francisco-based retail conglomerate seeks to monetize excess capacity at its distribution centers.
Read more »