Goldman Sachs changes strategy: welcome accounts from $ 1

After 150 years Goldman Sachs opens its doors to depositors. As reported by the Financial Times, the institution has decided to change strategy, according to even the demands of regulators to diversify funding sources.

Goldman last week launched the GSBank.com online platform, inherited along with a block of 16 billion deposits from the acquisition of GE Capital, and to open an account will be sufficient even a single dollar. "The Goldman's decision to apply to the mass market comes at a time when the bank is under pressure to find new forms of financing," explains the newspaper City. "The results of the first quarter of the major US banks have highlighted the difficulties faced by their investment divisions ahead of volatile markets and stricter regulations."

The strategic decision comes after days spent under fire from analysts, who wonder why Goldman and other big Wall Street do not try to change strategy to revitalize their business. A necessity put under the eyes of all by the fact that Goldman ended the quarter with lower profitability (measured on investment) of the last four years. In addition to the current account, the US bank is adding diversified business proposals such as certificates of deposit that offer yields above the market average. Also according to FT, these features may be attractive elements for ordinary savers.