How Goldman Sachs aims to dominate another corner of Wall Street

Goldman Sachs has long been considered the king of Wall Street dealmaking. Now, the bank is increasing its focus on another target: managing money for wealthy clients and institutions. Investment banking services, like underwriting initial public offerings (IPO) and advising mergers and acquisitions (M & A), have long been Goldman's bread and butter. In fact, the firm was ranked No. 1 in overall global M & A activity for the first seven months of 2025, capturing 32% of market share among its financial peers, according to LSEG data. Most recently, Goldman has had its hand in a number of high-profile initial public offerings, too, such as Nvidia chips-for-rent company CoreWeave , trading platform eToro , and fintech company Chime. But management sees a big opportunity in its much-smaller ass