×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: goldman sachs wealth management | mergers and acquisitions | deals

Goldman COO: Lower Valuations Open Path for M&As

Goldman COO: Lower Valuations Open Path for M&As
(AP)

Thursday, 02 June 2022 10:29 AM EDT

Goldman Sachs' President and Chief Operating Officer John Waldron said Thursday the bank continues to look for acquisition opportunities in the wealth and asset management space, as it seeks to diversify its revenue stream.

"Valuations are making more sense, getting more interesting. That opens up opportunity for more things to look at," he told a banking conference.

Still, the COO said the priority would be to bed down the recent acquisitions, and added that the bank is more cautious about capital expenditure given the current macro environment.

"I would say we have a lot to integrate and a lot to operate," Waldron said, adding that part of his job is to make sure that "we integrate, and we execute on those acquisitions."

The Wall Street bank is seeking to diversify its business to make it less vulnerable to capital markets cycles. As part of this strategy, the bank is expanding its asset and wealth management arms.

Waldron sounded a note of caution for the capital market activity, which he expects to be down a lot, saying the volumes are down 70% year-over-year. But he said the M&A activity has been more resilient.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
Goldman Sachs' President and Chief Operating Officer John Waldron said Thursday the bank continues to look for acquisition opportunities in the wealth and asset management space, as it seeks to diversify its revenue stream. "Valuations are making more sense," Waldron said.
goldman sachs wealth management, mergers and acquisitions, deals
192
2022-29-02
Thursday, 02 June 2022 10:29 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved