Goldman Sachs Private Wealth Management arm opens new office in Monaco

PARIS – Wall Street bank Goldman Sachs said its Private Wealth Management division had opened up a new office in the high net-worth hub of Monaco as part of broader European expansion plans.

Goldman Sachs added it had hired Arnaud Caussin, Thibaut Lambert and Serge Olive to run this new Monaco office.

Last month, Goldman Sachs’ shares fell after Wall Street’s premier investment bank missed quarterly profit expectations, hampered by weaker trading revenues and rising costs.

(Reporting by Sudip Kar-Gupta)