Goldman Sachs on the Prowl for Takeovers, Eyeing Up BNY Mellon, State Street and Other Institutions: Report

Banking giant Goldman Sachs is looking to take over smaller financial institutions, with several firms already on its radar, the New York Post reports. In an op-ed for NYP, finance journalist Charles Gasparino says that a CEO of a financial services giant revealed that, because of more lax regulations, banks are on the prowl for acquisitions. Says the unnamed source, “Because of the Fed’s supervisory relaxation, big bank deals are going to happen… Everyone is talking.” Gasparino says that one possible takeover target for Goldman is State Street, the Boston-based financial services giant serving institutional investors with a market valuation of about $30 billion. A State Street spokesperson had no comment on the matter, however. BNY, formerly known as Bank of New York Mellon, is reportedly another target for Goldman. Goldman and BNY recently announced a joint venture to launch tokenized money market fund services using a blockchain developed by Goldman. Gasparino says the venture is the precursor to a merger later on. According to “people close to Goldman,” a more immediate deal could unfold within the private credit or non-bank lenders space. Besides looking to invest in smaller financial firms, Goldman is also bullish on US equities, while leaning bearish on US Treasury yields. Due to a forecast of rate cuts coming earlier than expected, Goldman Sachs strategists raised their 12-month outlook for the S&P 500 index from 6,500 to 6,900. They also increased their year-end target from 6,100 to 6,600. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Goldman Sachs on the Prowl for Takeovers, Eyeing Up BNY Mellon, State Street and Other Institutions: Report appeared first on The Daily Hodl .