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Source: Goldman Sachs expected to announce sale of 'United Capital' on Monday or Tuesday, which tells more about the Wall Street bank's dysfunction than Joe Duran's old rollup

The New York City investment bank is 'at war with itself,' the Wall Street Journal says, in part, because ex-CEO Lloyd Blankfein's hare-brained ideas about extending its B2B brand were made worse by current CEO David Salomon..

Author Brooke Southall August 19, 2023 at 2:47 AM
3 Comments
no description available
David Solomon is extracting Goldman Sachs from middle-brow asset management.
Keith Girard contributed to the editing of this article.

Joe Duran


Joe

Joe

August 23, 2023 — 6:34 PM
It's David Solomon, not "Salomon". Come on now.
brooke southall

brooke southall

August 23, 2023 — 7:13 PM
Thank you, Joe. Fixed. Blame it on the ski bindings I dreamed of owning as a kid.
Jane

Jane

April 30, 2024 — 6:35 PM
The people who re really getting screwed are United Capital's clients and no one seems to be interested in that aspect.

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July 18, 2019 at 6:13 PM

Marc Spilker adds Matt Brinker as chess piece -- and partner -- in what he calls a 'very selective' talent add to build platform-for-RIA platforms outside Wall Street

Merchant Investment Management's executive chairman wants good people good at their job and Brinker likes having a breakaway Goldman partner rather than one captive to the Wall Street giant.

January 15, 2020 at 2:42 AM

Joe Duran's second RIA act is rocking with eight staff, four co-founders and a conspicuously anti-United Capital concept that will flip RIA stakes 'eventually' as a minority investor

The United Capital founder paradoxically promises to 'passively' buy minority stakes as a backdrop for going hyper-active with quick-strike capability to apply super-consulting and technology to create explosive growth as a prelude to a sale.

November 29, 2023 at 3:23 AM

Goldman Sachs-Creative Planning deal is bleeding defectors -- 16 more last week, report says -- auguring a 'potential disaster,' analysts warn

Dozens of former 'United Capital' advisors are fleeing at once, but Peter Mallouk is still battling to keep them, and Goldman Sachs may play legal hardball, sources say.

October 4, 2023 at 2:16 AM

See more related moves

Mentioned in this article:

United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran



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