Tags: goldman | sachs | fintech | app | wsj

Goldman Sachs Nears Deal to Sell Its Fintech App

Goldman Sachs Nears Deal to Sell Its Fintech App
(Roman Tiraspolsky/Dreamstime)

Wednesday, 19 September 2018 11:10 AM

Goldman Sachs is in advanced talks with several financial companies to spin off its three-year-old app, Simon, which sells complex financial products to retail investors, a source familiar with the matter told Reuters.

Several companies, including JPMorgan Chase & Co, Barclays Plc, HSBC Holdings Plc, Credit Suisse , Wells Fargo & Co and insurer Prudential Financial Inc, have shown interest in the app, which is expected to be valued at about $100 million, the source said.

Simon, or Structured Investment Marketplace and Online, is part of Goldman's web services platform, Marquee, which offers risk management and analytics tools to clients.

Goldman's shares (GS.N) were up 2.1 percent at $223.71 in midday trading. 

The Wall Street Journal reported the deal earlier.

© 2018 Thomson/Reuters. All rights reserved.

   
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Goldman Sachs is in advanced talks with several financial companies to spin off its three-year-old app, Simon, which sells complex financial products to retail investors, a source familiar with the matter told Reuters.
goldman, sachs, fintech, app, wsj
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2018-10-19
Wednesday, 19 September 2018 11:10 AM
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