Business Services Industry
Goldman Sachs outsources to Avanteos.(Brief Article)
Australasian Business Intelligence, May, 2005 by Egan, Liam
May 06, 2005 (Money Management - ABIX via COMTEX)
Goldman Sachs JBWere has outsourced its platform and portfolio services to Avanteos, a fully-owned subsidiary of the Commonwealth Bank of Australia. Craig Drummond, chief operating officer of Goldman Sachs JBWere, said the partnership was necessary to deal with a 70 per cent increase in Goldman's platform premium. From early 2006, Goldman Sachs JBWere's platforms team will be employed by Avanteos. In another transaction, Goldman Sachs JBWere sold its Australian margin lending business, Goldman Sachs JBWere Equity Finance, to Adelaide Bank.
Publication Date: 5 May 2005
AVANTEOS GROUP PTY LTD:
COMMONWEALTH BANK OF AUSTRALIA - ASX
CBA:
GOLDMAN SACHS JBWERE PTY LTD:...
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