Report: Goldman Sachs in Danger of Missing 2020 Financial Targets
Goldman Sachs (NYSE: GS) might trim the fiscal goals it set for itself earlier this year due to weaker-than-expected results, according to an article published Monday by Reuters.
Citing "analysts and sources inside the bank," the article said that the company's ambitions to pivot its focus toward higher revenue-generating segments have been limited by the coronavirus pandemic. In the company's Investor Day held in January, it outlined plans to lift its return on equity and reduce expenses.
The strategy sought to ramp up business both in lucrative fields in which it has experience and in relatively new corners of its operations. In the former category are activities such as wealth management, while the latter consists of businesses such as consumer loans.
Source Fool.com
