Goldman Sachs to Expand Its Cash Management Business
Goldman Sachs (NYSE: GS) is aggressively pushing ahead with the expansion of its cash management business, planning to debut it in the United Kingdom in September and across Europe by the end of the year, according to The Financial Times.
Citing anonymous sources, The Financial Times also reported that Goldman will pay as much as 200 basis points (2 percentage points) more than rivals on some deposits, a big premium considering how low interest rates are now.
Another anonymous source said that Goldman's cash management deposit strategy would place it in the 70th percentile of its peers.
Source Fool.com
