Add Goldman Sachs to the list of companies putting Bitcoin and cryptocurrencies on the front burner.
The investment bank soon will help wealthy clients invest in digital assets, creating a new Digital Assets Group within its private wealth management division. Mary Rich was named as global head of the new unit, according to a memo to employees released Wednesday and reviewed by Barron’s.
According to the memo, Rich will work closely with Goldman advisors to inform clients about blockchain and digital assets and develop investment offerings and services.
“As a firm, we believe in the possibility of blockchain technologies, and it is imperative that we continue to drive innovation and deliver solutions to our clients,” the memo says.
Not long ago, Goldman decided to broaden the scope of its business and its client base, boosting the profile of its consumer banking operatio, and its services for wealthy investors.
It would join Morgan Stanley in opening client access to digital assets.