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Goldman enters private banking for very rich

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Sunday, 13 August 2006

Goldman Sachs is courting a new group of customers: the world's wealthiest people. The muscular investment bank has proved to be spectacularly successful at making money for its own balance sheet through proprietary trading, private equity and hedge fund-type investments. Now it plans to offer that money- making savvy to the growing number of very rich individuals worldwide, and it has been quietly beefing up its private wealth management operations outside the United States.

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