Goldman Sachs is currently in discussions with American Express to transfer its Apple credit card and high-yield savings account products, according to a source familiar with the matter.
Both Goldman Sachs and Apple declined to comment on the talks, while American Express did not provide any statement either.
These discussions come as part of Goldman Sachs’ broader retreat from its unsuccessful consumer banking initiatives, which have faced criticism under the leadership of CEO David Solomon. Recently, CNBC reported that the financial institution is preparing for a significant writedown on its acquisition of fintech lender GreenSky in 2021.
The Wall Street Journal initially reported the ongoing talks between Goldman Sachs and American Express. However, the newspaper noted that there is no guarantee of a deal, and an agreement is not imminent.
If a deal is reached, it would signify a sudden change in direction for both corporate giants. In October, the Journal reported that Goldman Sachs and Apple had extended their partnership until 2029. Additionally, in April, Goldman Sachs’ Chief Financial Officer Denis Coleman highlighted the deepening of the partnership.
“This week, we announced the launch of a savings account for Apple…
2023-06-30 16:55:17
Source from www.cnbc.com
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