Goldman Sachs has long been considered the king of Wall Street dealmaking. Now, the bank is increasing its focus on another target: managing money for wealthy clients and institutions. Investment banking services, like underwriting initial public offerings (IPO) and advising mergers and acquisitions (M & A), have long been Goldman’s bread and butter. In fact, the firm was ranked No. 1 in overall global M & A activity for the first seven months of 2025, capturing 32% of market share among its financial peers, according to LSEG data. Most recently, Goldman has had its hand in a number of high-profile initial public offerings, too, such as Nvidia chips-for-rent company CoreWeave , trading platform eToro , and fintech company Chime. But management sees a big opportunity in its much-smaller asset and wealth management (AWM) division. Speaking to CNBC, Marc Nachmann, Goldman’s global head of asset and wealth management, said the company has a plan to grow this business — which includes portfolio construction, risk management, financial planning and other investment services — and challenge its banking peers in a less-crowded corner of Wall Street. “There’s still an opportunity to take market share and be a winner in this ga …
