Four years after partnering with Apple to launch the Apple Card, Goldman Sachs may be thinking about exit.
El Wall Street Journal reports that Goldman is "seeking a way out" of its high-level deal with Apple, which was recently expanded to include savings accounts for Apple Card holders.
The investment banking firm is apparently in talks to transfer the deal to American Express, the WSJ report added, but so far nothing appears to be in the works, nor is it clear whether Apple would support the transfer.
However, it would not be surprising if such a scenario were to come to pass. Earlier this year, Goldman CEO David Solomon said that he was “considering strategic alternatives” for the consumer business of the investment firm. Beyond its deal with Apple, Goldman's consumer-oriented business includes a credit card partnership with General Motors, as well as with GreenSky, the lending company that Goldman bought for $2.2 billion in 2021.
For their part, Apple and Goldman did not immediately respond to requests for comments on published story in wsj. CNBC he later published a similar report, citing his own anonymous sources.
