Goldman (GS) to Exit Transaction Banking Business in Japan

Less than a year after entering the transaction banking space in Japan, Goldman Sachs Group Inc. (GS) is exiting the business in the country, per a Bloomberg article.Per Hiroko Matsumoto, a Tokyo-based spokesperson, “Consequently we are closing Goldman Sachs Bank USA Tokyo Branch whose sole function was to support transaction banking in this market.”Goldman started the business of managing cash flow money for large companies in the United States in 2020. The business was later expanded to the U.K., Germany ...