At an off-site in upstate New York final month, throughout a dinner lasting roughly three hours, Goldman Sachs Chief Govt David Solomon informed companions that the agency had made some errors with client lending. However, he mentioned, the enterprise wasn’t as dangerous as they thought they usually didn’t perceive the small print. He wouldn’t tolerate companions trash-talking Goldman’s resolution to get into client lending, he informed them.
Goldman has identified for some time that client lending wasn’t actually figuring out, and the financial institution has been on the lookout for the exits. But it surely was Apple that sealed it. The tech big just lately despatched a proposal to Goldman that might pull the plug on their credit-card partnership, the crown jewel of the enterprise.
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