Goldman Sachs is tormenting its banking rivals as it embarks on a global mission to make a new fortune off the globe’s fast-growing ranks of millionaires.
The New York Times reports that the firm with the Midas touch will increase its number of financial advisers by 30 percent within three years as it lays out plans to massively expand wealth management for affluent customers.
Analysts estimate the program may generate as much as $1 billion in annual revenues by 2020.
Goldman says the clock is ticking, since it must move swiftly to catch up with the growth of new business titans and the superrich.
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