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Goldman Sachs (NYSE: GS) acquires United Capital for $750 million

  • Goldman Sachs to acquire United Capital Financial Partners Inc. for $750m
  • Deal will add 22 000 new clients and assets valued at $25 billion to its portfolio
  • In terms of deal United Capital CEO Joe Duran will join Goldman Sachs

Goldman Sachs Group Inc. (NYSE: GS) agreed today to purchase United Capital Financial Partners Inc. for a total of $750 million. This is the bank’s largest acquisition since the financial crisis.

The deal will bring $25 billion of assets and 22 000 clients, many of them high net worth and affluent, under the Goldman Sachs umbrella. It comes only 7 months after David Solomon became CEO. The company also announced that United Capital’s CEO and founder, Joe Duran, will join Goldman Sachs.