Business Services Industry
Goldman's new account; After delay, investment bank set to launch fee-based program using outside managers.(Goldman Sachs Group Inc.)(Brief Article)
Crain's New York Business, September, 2001 by Kelly, Bruce
After much hemming and hawing, Goldman Sachs Group Inc. is finally close to rolling out a new money management account using external managers, say sources inside and outside the firm. Executives at Manhattan-based Goldman Sachs have been busy during the summer putting last-minute touches on the fee-based program before turning it over to their elite sales force.
The company had hoped to unveil it by June, but the launch had been stalled while the company worked out the details, including the roster of managers and even the program's name. Insiders have kicked around several names for the program, including X-AM, an acronym for external asset management. Unlike GSAM, for Goldman Sachs Asset Management, X-AM didn't stick, says the outside source. ``The...
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