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Goldman Sachs Lands GM's $2.5 Billion Business

Video Credit: Wochit - Duration: 00:34s - Published
Goldman Sachs Lands GM's $2.5 Billion Business

Goldman Sachs Lands GM's $2.5 Billion Business

Ramin Talaie/Corbis/Getty Images Goldman Sachs won the bid for General Motors' credit-card business for roughly $2.5 billion, The Wall Street Journal reported Thursday.

The Wall Street giant beat out Barclays, acquiring more than one million GM cardholders and the $8.5 billion they spend annually, according to The Wall Street Journal.

This is Goldman Sachs' second co-branded card, following the Apple Card, as it looks to expand its consumer-lending business.

The bank recently shuffled its organizational structure to create a new standalone consumer division that includes its Marcus lending unit.


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mason Goldman Sachs reportedly just landed GM's $2.5 billion credit card business, its second co-branded deal after the A… https://t.co/vLlXynluhA 1 day ago

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Oliver Yu Closing the loop - Goldman's first co-brand since Apple Card. https://t.co/vW8cpnUeQ4 3 days ago

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Conor McAleavey Goldman Sachs continuing to venture into consumer lending... this time not with a big tech partnership (ala Apple C… https://t.co/ubVUPdKfmM 6 days ago


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