Goldman Sachs Asset Management Head Marc Nachmann Talks Third-Party Fundraising

Goldman Sachs' Asset and Wealth Management division, under the leadership of Marc Nachmann, is surpassing its ambitious growth goals. The firm is shifting towards a more efficient model that relies less on its balance sheet, concentrating on third-party fundraising while experiencing notable growth in private credit and ETFs. Their objective is to establish themselves as a key player in active ETFs and model portfolios, serving ultra-high-net-worth clients worldwide in both public and private markets. Additionally, they are strategically pursuing mergers and acquisitions to boost organic growth. Interestingly, despite a significant amount of cash still sitting in money markets, Goldman Sachs hasn't encountered major outflows into equities.