Private banking 2008: When the ultra-wealthy bump into the sub-prime
Goldman Sachs is truly the bank of ultra-high-net-worth clients. Its target clients have a liquid net worth of at least $10 million. Regarded by some as more of a service to complement the investment banking clients, the firm’s wealth management business is becoming more a focus. Efforts to increase private banking offerings globally have been recognized by its competitors – in this year’s survey, Goldman Sachs ranked eighth-best global private bank, up from 12th last year.
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