Bloomberg - Goldman said looking to expand investment bank in Switzerland

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Goldman Sachs is expanding its trading activities in Switzerland, according to a person with knowledge of the matter.

Bloomberg News reports that the U.S. investment bank is upgrading its Swiss trading unit, housed under Goldman Sachs International, from a representative office into a branch, the person said, asking not to be identified as the plans aren’t public. The move is subject to approval from Finma, the Swiss financial regulator.

The change would allow Goldman Sachs to do a wider range of broker/dealer-type activities, and does not involve the New York-based bank expanding in the wealth management or advisory businesses, the person said.

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Goldman Sachs Is Expanding Trading Activities in Switzerland

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