Investment bank Goldman Sachs has confirmed it is close to offering crypto to its private wealth management (PWM) clients and has appointed a new global head to manage the segments.
In an internal announcement shared with CoinDesk, Goldman Sachs said Mary Rich has been promoted to global head of the Digital Assets Group for private wealth management at the bank and will work with advisers to educate clients about the digital assets and blockchain technology.
In an interview with CNBC, Rich said the bank is offering a “full spectrum” of investments in bitcoin and digital assets, “whether that’s through the physical bitcoin, derivatives or traditional investment vehicles.”
″We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ecosystem for private wealth clients, and that is something we expect to offer in the near-term,” Rich told CNBC.
Earlier this month, Goldman Sachs relaunched its cryptocurrency trading desk after a three-year hiatus, with plans to once again support bitcoin futures trading.
“Mary will leverage the firm’s capabilities to ensure we can best meet client interest across digital asset classes and technologies,” according to the memo. “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.”
Read the full memo below: