Goldman Sachs Group will detail plans to turn around performance at its core bond-trading unit next month after unusual pressure from large investors frustrated by vague explanations of its troubles, people familiar with the matter told Reuters.
The move is a break from tradition at Wall Street’s pre-eminent bank, which usually gives its investors little information about how it makes money.
That was the case last month, when Goldman reported a stunning 40-percent decline in bond-trading revenue, much worse than rivals like Morgan Stanley and JPMorgan Chase & Co.