Goldman Sachs Bank wins UK licence

US bank has won regulatory approval to operate a private bank in the UK, according to a filing with the UK's Financial Conduct Authority

Goldman Sachs has won regulatory approval to operate a private bank in the UK, underlining the US firm’s attempts to diversify into less volatile business lines.

Goldman Sachs Bank USA, which was first established as a New York State-chartered bank in 2008, was approved to operate in the UK on March 21, according to a filing with the UK's Financial Conduct Authority.

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