Goldman CEO's latest move rebuilds its consumer finance.

By The Exchange Team

David Solomon is proposing his third significant organisational reform since becoming Goldman Sachs CEO in late 2018.

The bank's four main departments will be merged into three, with trading and investment banking as the largest and most important revenue-wise.

This division will include Goldman's digital corporate cash management company, fintech GreenSky, and card partnerships with Apple and GM.

Solomon has been under pressure this year as sweeping drops in banking stocks left Goldman at the 2nd lowest valuation among big banks behind Citigroup.

According to Goldman's price-to-tangible-book-value ratio, a significant statistic used by bank investors and analysts.

This performance has raised concerns about Solomon's selection of division leaders.

CNBC and others have reported on Solomon's high-profile pastime as an international music DJ, as well as internal criticism.