{"id":82887,"date":"2022-10-19T01:03:22","date_gmt":"2022-10-19T05:03:22","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=82887"},"modified":"2022-10-19T00:36:18","modified_gmt":"2022-10-19T04:36:18","slug":"rarely-humbled-goldman-sachs-concedes-missteps-in-plan-to-take-on-megabanks-in-retail-finance","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2022\/rarely-humbled-goldman-sachs-concedes-missteps-in-plan-to-take-on-megabanks-in-retail-finance.html","title":{"rendered":"Rarely-humbled Goldman Sachs concedes missteps in plan to take on megabanks in retail finance"},"content":{"rendered":"\n<p>(CNBC) <a href=\"https:\/\/www.cnbc.com\/quotes\/GS\/\">Goldman Sachs<\/a> CEO David Solomon is reining in his ambition to make the 153-year-old investment bank a major player in U.S. consumer banking. After <a href=\"https:\/\/www.cnbc.com\/2022\/09\/12\/goldmans-gs-apple-card-business-has-a-surprising-subprime-problem.html#:~:text=The%20difficulties%20seem%20to%20confirm,on%20the%20no%2Dfee%20card.\">product delays<\/a>, executive turnover, branding confusion, <a href=\"https:\/\/www.cnbc.com\/2022\/08\/09\/apple-card-growth-vendors-blamed-for-mishaps-in-goldman-card-business.html\">regulatory missteps<\/a> and deepening financial losses, Solomon on Tuesday said the firm was pivoting away from its previous strategy of building a full-scale digital bank.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/2022\/10\/18\/goldman-sachs-pivot-from-marcus-shows-that-disrupting-retail-banking-is-hard.html\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(CNBC) Goldman Sachs CEO David Solomon is reining in his ambition to make the 153-year-old investment bank a major player in U.S. consumer banking. After product delays, executive turnover, branding confusion, regulatory missteps and deepening financial losses, Solomon on Tuesday [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-82887","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/82887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=82887"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/82887\/revisions"}],"predecessor-version":[{"id":82888,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/82887\/revisions\/82888"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=82887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=82887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=82887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}