By Will Feuer
Goldman Sachs Group Inc. said it will report results for three business segments beginning with the fourth quarter in a broad reshuffling of the Wall Street firm.
The company previously broke out results across four segments: Investment Banking, Global Markets, Asset Management and Consumer & Wealth Management.
The company's new segments are Global Banking & Markets, Asset & Wealth Management and Platform Solutions.
The Wall Street Journal reported on the then-coming reorganization in October.
The new Global Banking & Markets is a combination of the company's former investment-banking and trading businesses, and also includes the results from equity and debt investments.
The Asset & Wealth Management segment combines the former asset and wealth-management businesses, and also encompasses Goldman's direct-to-consumer banking business, including Marcus.
Platform Solutions houses results from the transaction-banking business as well as the firm's consumer platforms, such as its partnerships offering credit cards and point-of-sale financing. The company has struck financial-technology deals recently with Apple Inc.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
01-13-23 0650ET