Goldman Sachs is exploring strategic alternatives for its consumer arm and FinTech unit GreenSky as it scales down its retail ambitions.
Among the firms that submitted initial bids for the installment lending platform, which Goldman Sachs acquired for $2.24 billion last March, are Apollo Global, Sixth Street, and Warburg Pincus.
Some of the offers are solely for the unit’s loan-writing operations, while others include legacy loans currently on Goldman’s books, according to a Tuesday (June 13) report by Seeking Alpha.
This news comes after Goldman Sachs CEO David Solomon said earlier this year that the company is looking at strategic alternatives for its Platform Solutions unit, which includes its consumer card and consumer partnerships.
Despite this, financial analysts predict a positive future for Goldman Sachs. The company saw a steady increase in stock performance on June 12, and the current consensus among 26 polled investment analysts is to buy stock in Goldman Sachs, indicating optimism about the future of the company.
In the meantime, PYMNTS reported earlier this month that the head of Goldman Sachs Group’s FinTech unit, Stephanie Cohen, will be taking a leave of absence for family reasons.
“I know there is a tremendous amount going on across our business at the moment, and I wouldn’t be able to do this if I didn’t have complete confidence that you all will continue to deliver for our clients, partners and customers as we execute on our path to profitability,” Cohen wrote in her departure memo.
In October of last year, Cohen was named global head of the Platform Solutions segment, one of three operating segments launched by the investment bank in one of its most extensive reorganizations in its 153-year history, PYMNTS reported.
Platform Solutions is dedicated to embedding digital platforms in the ecosystems of Goldman Sachs clients, the firm said when launching the segments.
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