Goldman Sachs forays into geopolitical advisory business

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October 26, 2023 10:53 AM EDT

FILE PHOTO: The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo

(Reuters) - Goldman Sachs on Thursday launched an institute to offer its clients insights on geopolitics and technology, according to an internal memo seen by Reuters.

The Goldman Sachs Global Institute will be led by Jared Cohen and George Lee, partners at the U.S. banking heavyweight, the memo said.

Apart from Goldman Sachs, independent investment firm Lazard has been advising its clients on geopolitical risks.

Russia's invasion of Ukraine last year and the ongoing conflict in the Middle East have put the spotlight on geopolitics, as it poses risks for domestic as well as international firms with global presence.

The Goldman Sachs Global Institute will partner with leaders across businesses to engage with clients on a range of topics from the U.S.-China relationship, conflicts in Europe and the Middle East and shifting supply chains, the memo added.

(Reporting by Jaiveer Singh Shekhawat and Niket Nishant in Bengaluru; Editing by Shilpi Majumdar)


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