Goldman Sachs makes biggest acquisition in nearly 20 years

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Goldman Sachs just made its first M&A splash of the David Solomon era, scooping up United Capital in a bid to beef up its wealth-management business. The Wall Street heavyweight is pushing deeper into the slow-but-steady wealth management industry in hopes of offsetting the turbulence experienced in its once-vaunted trading arm. Goldman's $750 million purchase of Newport Beach, California-based United Capital is the company's largest in nearly two decades, The Wall Street Journal reported.


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