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Why is Goldman Sachs holidng its first investor day?


Lillian McKenna

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I believe that the main reason behind Goldman Sachs' (NYSE:GS) investor day is to reassure investors that the bank is ready to turnaround its lagging performance. The bank has been trailing its main competitors Morgan Stanley and JP Morgan in the last decade and shareholders seem to be giving up on the investment banking giant.

Goldman Sachs also recently launched consumer banking products and investors are keen to know how the bank plans to scale these products. The bank released consumer credit card product in partnership with Apple and shareholders will be interested in the card's uptake figures given Apple's large customer base.

Investors will also be interested in the performance of Marcus, Goldman Sachs' online bank, which also targets consumers, especially millennials. Both of the consumer banking products have significant growth potential and I think the bank might have some positive updates for shareholders.

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