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Goldman Sachs’ Marcus Consumer Banking Move Turns Costly


The combination of high interest rates and fast inflation has hit Goldman especially hard because of the slowdown in its most profitable businesses. In sales and trading, Goldman’s revenue last quarter shrank roughly twice as fast as that of its peers, according to estimates from Credit Suisse. And the business of advising companies on initial public offerings and mergers tapered off, strangling a big source of revenue for the bank.Though Goldman maintained its place among peers as the leader in advising companies in 2022, the global revenue it brought in from deals fell to $4.2 billion from $4.8 billion in 2021 — a record year for deal-mak …

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