Goldman Sachs, known for advising the world’s richest and most powerful, is building a so-called robo-adviser geared to mass affluent customers, according to a job listing posted Monday on the bank’s website. A Goldman spokesman declined to comment. The job posting for employees to help build the platform comes as Goldman gs is looking at ways to broaden its customer base outside the super wealthy, including making deeper inroads into new consu...
BlackRock on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to beat the market. The world’s biggest money manager has faced active stock fund withdrawals and the revamp is its biggest attempt yet to engineer a turnaround. Last May, BlackRock blk said it had recruited Mark Wiseman, the head o...