Goldman Sachs just announced its first partnership for transaction banking as it looks to build a new $1 billion business moving money around the world

Business Insider | Mar 16, 2020 at 12:00 AM
  • Goldman Sachs just announced the first partner for its fledgling transaction-banking business, inking a deal to handle cross-border payments for clients of SAP, the German enterprise tech giant.
  • Goldman will help customers of SAP’s Ariba Network to pay bills in 125 currencies, offering them one-click functionality and a transparent fee structure.
  • Moorthy has overseen a relatively rapid build out, growing a team of roughly 320 employees within Goldman Sachs’ investment banking division just since the end of 2018 when he joined from JPMorgan.