(Reuters) -Goldman Sachs Group Inc plans to fold its biggest businesses into three divisions, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
Undertaking one of biggest reshuffles in the Wall Street firm’s history, Goldman will combine its investment banking and trading businesses into one unit, while merging asset and wealth management into another, the report said.
Marcus, Goldman’s consumer-banking arm, will be a part of the asset and wealth management unit, the report added.
A third division will look over transaction banking, the bank’s portfolio of financial-technology platforms, according to WSJ.
Goldman did not immediately respond to Reuters’ request for comment.
(Reporting by Lavanya Ahire and Akriti Sharma in Bengaluru; Editing by Sherry Jacob-Phillips and Muralikumar Anantharaman)
