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Goldman Sachs Is Growing A $35B Business Managing Nonprofit Money

by businessinsider.com posted 4months ago 31 views
Goldman Sachs has worked with nonprofit groups like endowments and foundations since 2009. The firm is now considering advising more non-traditional groups, like cemeteries and Native American reservations, as it continues expanding. The firm's institutional client services business, which was set up in 2009 to manage money on behalf of nonprofits and sits within the consumer and investment management division, is a major growth area. Groups like nonprofits don't have the resources to manage their money in-house, so they're increasingly outsourcing the work.