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Goldman Sachs Surrenders Banking License

Jan 22, 2013
Jing Chen

Goldman Sachs is relinquishing its Irish banking license following the sale of its Ireland-based hedge fund administration unit last year.

A Goldman spokesperson told Bloomberg Businessweek that its remaining business in Ireland "will operate as a branch of [Goldman's] European entity, Goldman Sachs International" and would "not require a banking license."

eVestment reported last year that Boston-based custody bank State Street purchased Goldman's hedge fund administration unit for $550 million.


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