Who Goldman Sachs buys from and sells to
Investment bank and trading house with a growing asset and wealth arm; exiting consumer lending.
Sells to 3
- JPMorganJPMbuys the ~$20bn Apple Card portfolio, closing ~2027-28
- Hedge fundsprime brokerage, financing and trading
- CorporationsM&A advice and underwriting
Where the chain could break
- Trading and deal fees swing with market volatility and M&A volumes
- Hedge-fund financing book exposed to a fund blow-up
- G-SIB and stress capital buffer rules set how much balance sheet it can use
Competes with
- Morgan StanleyMSinvestment banking and equities trading
- JPMorganJPMinvestment banking and markets
- BlackstoneBXprivate credit and alternatives fundraising
Mapped by hand from filings and company reporting, as of October 2026. It shows the relationships that matter most, not every contract: most are never disclosed, and agreements change.