The bank's Principal Strategic Investments team has grown in importance as Goldman Sachs has turned its sights on transforming itself.
, the 150-year old investment bank is pushing into new businesses, from retail banking and wealth management to credit-cards and corporate payments, all to offset a steep decline in trading revenue.That means that as Goldman has become more open to change than it's been in decades, top executives have turned to PSI to help navigate uncharted waters, including during the creation of its digital retail bank Marcus in 2016.
The group, sequestered behind locked doors on the sixth floor of Goldman's Manhattan headquarters, is unusual for the male-dominated world of venture capital. Half of the team are women, including Cohen's main deputy, a 35-year old partner named Rana Yared. The tight-knit group hails from around the world and speaks 14 languages.When Goldman takes a stake in a company, it's far from passive.
But perhaps PSI's biggest difference is the role it's played in the formation of companies since the group's inception in 1999.
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