Goldman Sachs (GS) is facing a challenging exit from its four-year-old credit card partnership with Apple (NASDAQ:AAPL), marking a significant turn in the Wall Street giant’s consumer banking ambitions. The potential divestiture from this partnership, once seen as a promising venture into consumer finance, now appears to be a costly and complex undertaking. Goldman is reportedly seeking a buyer for its share of the partnership but faces potential pressure to devalue its stake to attract bids. This development is another setback for CEO David Solomon’s consumer strategy, which has aimed to diversify the bank’s revenue streams beyond its traditional trading and investment banking operations
Read More : Goldman Sachs Encounters Challenges as it Unwinds Partnership with Apple on Credit Card Venture