David Solomon, chief executive officer of Goldman Sachs Group Inc., during a Bloomberg Television at the Goldman Sachs Financial Services Conference in New York, US, on Tuesday, Dec. 6, 2022.
Michael Nagle | Bloomberg | Getty Images
Goldman Sachs said Wednesday that it agreed to sell its fintech lending platform GreenSky to a group of investors led by private equity firm Sixth Street.
The deal, which includes a book of loans created by Goldman, will result in a 19 cents per share reduction to third-quarter earnings, Goldman said in the statement. The New York-based bank is scheduled to disclose results Tuesday.
The move is the latest step CEO David Solomon has taken to retrench from his ill-fated push into retail banking. Under Solomon’s direction, Goldman acquired GreenSky last year for $1.7 billion, overruling deputies who felt the home improvement lender was a poor fit. Months later, Solomon decided to seek bids for the business amid his broader move away from consumer finance….
2023-10-11 14:22:59
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