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Goldman Sachs Contemplates Leaving Apple Card Partnership

Given recent developments, such an arrangement would not come as a surprise. Earlier this year, Goldman CEO David Solomon mentioned that he was exploring "strategic alternatives" for the firm's consumer division.

Goldman Sachs Contemplates Leaving Apple Card Partnership
Goldman Sachs Contemplates Leaving Apple Card Partnership

According to a report from The Wall Street Journal, Goldman Sachs is reportedly exploring an exit strategy from his four-year partnership with Apple for the Apple Card.

The collaboration, which recently expanded to encompass savings accounts for Apple Card holders, seems to be under scrutiny by the investment banking firm.

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The article suggests that Goldman Sachs is engaged in discussions to transfer the partnership to American Express.

However, no concrete agreements have been reached thus far, and it remains uncertain whether Apple would support such a transition.

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Given recent developments, such an arrangement would not come as a surprise. Earlier this year, Goldman CEO David Solomon mentioned that he was exploring “strategic alternatives” for the firm’s consumer division.

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Alongside his collaboration with Apple, Goldman Sachs’ other business includes a credit card partnership with General Motors and the acquisition of GreenSky, a lending company, for $2.2 billion in 2021.

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Neither Apple nor Goldman Sachs responded immediately to SurgeZirc SA’s request for comments on The Wall Street Journal story. CNBC later released a similar report, citing its own anonymous sources.

 

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Elize Coetzee for SurgeZirc SA
Elize Coetzee for SurgeZirc SAhttps://new.surgezirc.co.za
Elize Coetzee, a seasoned journalist, is the driving force behind SurgeZirc SA’s world news and world politics coverage. With an unwavering commitment to truth, Elize delves into global affairs, providing live updates, in-depth investigations, and thought-provoking analysis. Whether it’s geopolitical tensions, international diplomacy, or breaking stories, Elize’s incisive reporting keeps readers informed and engaged.
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