Goldman Sachs announces reorganization, to combine investment banking and trading businesses - WSJ

With a view to generate steady fees in any environment, Goldman Sachs' (NYSE:GS) David Solomon to venture into his third major reorganization in just four years as chief executive officer, overthrowing some of the signature moves he made as recently as 2020 - WSJ.
The company aims to merge its businesses into three divisions.
Investment-banking and trading businesses will be merged into one unit, while merging asset and wealth management into another. Marcus, Goldman’s consumer-banking arm, will be part of the asset- and wealth-management unit.
A third division will consist of transaction banking, the bank’s portfolio of financial-technology platforms, specialty lender GreenSky, and its ventures with Apple Inc. and General Motors.
The company is all set to report its Q3 earnings results on October 18, before market opens.
Earlier this year, the bank announced to bring in $10B in asset and wealth-management fees by 2024.
Since the start of 2022, Goldman (GS) lost around 24%.