More than two years ago, Goldman Sachs Group Inc told investors it would find $5...
) told investors it would find $5 billion in fresh annual revenue by 2020. Now, the bank may move away from that goal to focus on a wider range of metrics.
They could also include narrower items, such as goals for Goldman’s fledgling retail bank, Marcus, according to some of the sources, who spoke on condition of anonymity. “Right now the story is we’re Goldman Sachs, trust us and we’ll generate good returns. The collective investment community is saying that doesn’t cut it,” said Wells Fargo analyst Mike Mayo. “They need to provide something that increases confidence so, for the first time ever, they’re going to lift the curtain behind the scenes at Goldman Sachs.”
The $5 billion target was at one time a crucial benchmark for whether Goldman could transform itself from a Wall Street trading house with stalling profits into a more diversified bank with potential to grow, analysts said.
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