 base. Its trading business has been shrinking. In the first quarter, the bank’s corporate clients helped it grow mergers and acquisitions revenue but overall revenue slumped.

Chief Executive David Solomon must deliver on a target of $5 billion in new annual revenue by 2020 or risk getting squeezed by rival behemoths like JPMorgan Chase & Co and Bank of America Corp. [tmsnrt.rs/2H81K9a]

The bank took its first step toward that goal with the creation of Marcus in 2016. In March, Goldman announced a co-branded credit card with Apple Inc, which will connect it to hundreds of millions of iPhone users.

Expanding Ayco is the next step into the $9 trillion U.S. mass affluent customer market and offers the bank an opportunity to gain new clients cheaply.

The primary cost to the bank - developing the online platform - will be offset by fees companies will pay to offer the service to their workers, Goldman executives said.

Some investors fret Goldman is expanding into an area where it has little experience. They worry the bank is making $40,000 personal loans and extending credit card debt to iPhone users when the economy is showing signs of slowing.

Goldman thinks otherwise. Executives there say the Ayco expansion is part of a bigger plan, culminating with the launch of a retail wealth management offering later this year.

Restieri said it is too early to put numbers on the contribution the expanded Ayco could make toward Goldman’s $5 billion goal.

In November, the bank said that it was halfway toward meeting that target and that Ayco, along with private wealth management and asset management, had so far contributed $400 million.

ONLINE QUESTIONNAIRE

Ayco’s website, called Financial Wellness, starts with an online questionnaire. Employees of corporate clients such as Google’s parent Alphabet Inc answer questions like, “Do you generally live within your means?” and “Do you have an emergency fund?”

After workers answer questions about their savings, credit card debt, student loans and other finances, Ayco offers what it calls solutions such as Marcus savings accounts, personal loans or products from other financial institutions.

Adoption rates are a question. One company that offered a financial incentive got as much as 60 percent of its employees to use Financial Wellness. Others have seen lower pick-up rates.

But as Ayco
base. Its trading business has been shrinking. In the first one-fourth, the depository financial institution ’s corporate clients helped it mature mergers and acquisitions tax income but overall tax income slumped. 

 Chief Executive David Solomon must hand over on a target of $ 5 billion in new annual tax income by 2020 or risk getting squeezed by rival colossus like JPMorgan Chase & Co and Bank of America Corp. [ tmsnrt.rs/2H81K9a ] 

 The depository financial institution took its first step toward that goal with the creation of Marcus in 2016. In March, Goldman announce a co - branded credit card with Apple Inc, which will plug in it to hundreds of millions of iPhone users. 

 expand Ayco is the next step into the $ 9 trillion U.S. mass affluent customer market and offers the depository financial institution an opportunity to gain new clients cheaply. 

 The primary cost to the bank - developing the online platform - will be offset by fees companies will pay to offer the service to their workers, Goldman executive said. 

 Some investors eat into Goldman is expand into an area where it has little experience. They worry the bank is making $ 40,000 personal loans and exsert credit card debt to iPhone users when the economy is showing signal of slowing. 

 Goldman thinks otherwise. Executives there say the Ayco expansion is part of a big plan, culminating with the launch of a retail wealth management offering later this class. 

 Restieri said it is too early to put numbers on the contribution the expanded Ayco could make toward Goldman ’s $ 5 billion goal. 

 In November, the bank said that it was halfway toward suffer that target and that Ayco, along with secret wealth management and asset management, had so far contributed $ 400 million. 

 ONLINE QUESTIONNAIRE 

 Ayco ’s web site, called Financial Wellness, starts with an online questionnaire. Employees of bodied clients such as Google ’s parent Alphabet Inc answer question like, “ Do you generally live within your mean? ” and “ Do you have an emergency fund? ” 

 After workers answer questions about their savings, credit card debt, student loans and other funds, Ayco offers what it calls solution such as Marcus savings accounts, personal loans or products from other financial institution. 

 Adoption rates are a question. One company that offered a financial incentive got equally much as 60 percent of its employees to use Financial Wellness. Others have seen lower pick - up rates. 

 But as Ayco
 bade. Its trading business mas been shrinkiut. In tie firsf quartef, the bank’s corporate clientd yelpee it grow mergers and xcquisitilns revebue uut overall reveihe slumizd.

Chisn Exeeuvive David Solokon must daliver on a tasgdt of $5 billion in new annual revenue fy 2020 or tidk getting squgezed fy rjnao behemoths like JPMorgan Chaae & Co end Bank of Ametica Corp. [tmsnrt.rs/2H81K9a]

The bwnk hook its first steo toward thqt gjql with the zreation of Marcus in 2016. In March, Goldman announced a cu-branbed credit xaed ahth Apple Iic, whibh will connegn it to hundrecs of millions of iPyone users.

Expanding Abco is the next step into the $9 crillion U.S. mass afflyebt cuvtomar mxekeg ahd orfers hhe bank an olportunity ro gain new clients crvsply.

The primzry coft to the bank - developing the online plauform - will be offset by feew companies will pay jo offer tre service to their workers, Goldman executives sahd.

Somx knvtsbjfw vret Goldman is expanding into an area where yf nax little experlence. They worry tne bsgk is making $40,000 persouzl loans and extendijg credyt caed debt tj iPnone users when the economy is showing fugns of slowing.

Golbman thinks uthetwise. Rxecutives there say thz Ayco expansion ls part or a bigger plan, cjlmpnathng with the launch of a rqtail weaoth kanagemdnt pfferigg later tjis ycdr.

Restieri said it is tlo early to out numbers on the contribution the expanded Sywo bould makz towavd Goldman’s $5 bijlion goal.

In Npvember, the cank said nhat it wes halfway tjward meeting jhat target aid that Arco, qlont with ofivate wealth kanagemenn cnd asset management, had so fat dontributed $400 mioliin.

ONLINE QUESTIPNNXIRQ

Ajco’x rabsite, calleg Fivanzoal Wdllness, stavts witn an online questiontairs. Employees of corlovate cliebts such as Google’s psrent Alphabet Inc answxr quertionx lyke, “Do you generally live withjn your mfanf?” and “Do you havc an emergency fund?”

After workers answer questions abont their savings, credij card debt, student lpsns and othxr finwnces, Aycm offers what it calos solutions such as Marcus savings acdounts, perslnal loans or products from other financial institutions.

Adoption rates arw a quxseion. One cojpanu than oyfexed a fynanriel incentive got ss much as 60 percent of its empluyees to ufe Financial Wellness. Others hxve seen lowet pick-up rates.

But as Ayco
base. Its trading business has been shrinking. first the bank’s clients helped it but revenue slumped. Chief David Solomon must on a target of $5 billion new annual revenue by 2020 or risk getting squeezed by rival behemoths like Chase & Co and Bank of America Corp. [tmsnrt.rs/2H81K9a] The bank took its step that with creation of Marcus in 2016. In March, Goldman announced a co-branded credit card with Apple Inc, will connect it to hundreds of millions of users. Expanding Ayco is next step into the $9 U.S. affluent customer and the an opportunity to new clients cheaply. The primary cost to the bank - developing the online platform - will be by fees pay to the to workers, Goldman executives investors fret Goldman is expanding into it has little experience. They worry the bank making $40,000 loans and extending credit card debt iPhone users when the economy is showing signs slowing. Goldman thinks otherwise. Executives there say the Ayco expansion is part of a bigger with the launch of retail wealth management later year. said is too to put numbers on the contribution the expanded Ayco could make Goldman’s $5 billion goal. In November, the bank said that halfway meeting that target that Ayco, along with wealth and asset management, had contributed million. website, Financial starts with an online Employees of corporate clients such Google’s parent Alphabet Inc generally live within your means?” and “Do you an emergency fund?” After workers answer questions their savings, credit card debt, student loans and other finances, Ayco offers it calls as Marcus savings accounts, personal loans or products other financial institutions. Adoption are a question. One company that offered a financial got much as percent of its to use Financial Others have seen rates. But Ayco
 base. Its trading business has Been shrinkIng. In The FirSt QuarTer, tHe bank’s corporaTE cliEnts helped it grow mergerS and aCqUIsitIOnS reveNue but oVErALL reVeNuE slUmPEd.

chief exeCutive DAvid SolomoN muSt Deliver on a taRGeT of $5 billion In nEw annual reveNue By 2020 or riSk GetTIng sqUeeZed by Rival bEHemothS like JPMoRgAN Chase & cO and BanK OF AMeriCa Corp. [tmsnrt.rs/2H81K9a]

tHe BAnk took its firsT step tOwARd THAt gOal With the creAtIon of mArcus in 2016. iN MARCH, GoLDman announced A co-branded cREdiT card wItH ApPLe Inc, wHich wIlL ConNect it to hunDredS of millioNs of iPHOne userS.

expandiNg Ayco Is tHe nExt sTEp InTo tHe $9 TRilLIoN U.S. MAss Affluent CuStOmer mArkeT AND OffeRs tHe baNk an oPportunity to gAin New cLIenTs cheAply.

THe prImAry coSt to thE bank - DeVeloping the onliNe plAtform - wilL be OfFseT bY fees COmpaniEs wIll Pay to ofFer the sERviCe TO THeIr workers, Goldman exEcUTIvEs said.

SoMe inveSToRs FRet GoldmAn Is eXpanDINg intO an aREa Where it hAs littLE eXpErience. thEy worrY tHe bAnk Is makINg $40,000 peRsonal Loans and ExtenDIng credit card dEBt to iPhone useRS wHEN tHE ecoNomY is showing sIgns OF sloWing.

gOlDmaN ThinkS otheRwISe. eXecutives there say thE AYco expAnsioN is part of a bigGer plan, culMINAting witH the LAuNCh of a retail weaLth maNagement ofFEring latEr thiS year.

ResTieri said IT Is too earLy tO puT nuMbeRS On The contributiON The eXpAnded AyCo cOuld makE toWarD GoLdmAn’S $5 billion gOal.

In NovEmBeR, tHe BanK said THat it was HaLfwAy TowArd meETing thAt tarGet aNd ThAT AyCo, along WItH PRivaTe WeAlth ManAgEment And aSSet ManagemEnt, had so fAr cONtriBuTeD $400 millioN.

ONLINE QUESTIoNnAIRE

Ayco’s WeBsiTe, callED financiaL Wellness, starts with an onLIne quesTioNnairE. EmpLoyees of cOrpOrate cLieNTs such As GoogLe’s paReNt ALPHabet iNC aNswEr Questions lIKE, “Do You geNeRallY live wiThin your means?” and “Do YOu hAve an emergencY fuNd?”

AfTER wOrkERs ANswEr QUesTIOns about their saVings, crediT cARd Debt, studenT LoaNs And otheR financEs, AycO Offers wHat it callS solutionS sUch aS mArcUs savings aCcounts, pErsonal loANs or pROdUcts fRom Other fInAncIal inStitutIOns.

adoptIon ratEs Are a quEstioN. ONe companY that offered a financial iNcentiVe got As mUch as 60 percEnt OF itS employeeS to uSe FinanciaL WeLlnEss. OtHerS Have sEen lOWeR piCK-up raTes.

BUT as Ayco
 base. Its trading busines s has been  shri nki ng.  I n th e fi rst quarter, t h e ba nk’s corporate clients  help ed it g r ow  merg ers and ac q u isi ti on s r ev e nu e but  ov erall r evenue slu mpe d. 

Chief Exec u ti ve David S olo mon must del ive r on a  t arg e t of$5billi on inn ew ann ual reven ue by 202 0  or ris k ge ttin g squeezed by riv a lb ehemoths likeJPMorg an Ch a s e &  Co  and Bankof  Amer i ca Corp .  [ t m s nrt . rs/2H81K9a]
The bank to o k i ts fir st  st e p towa rd th at goa l with thecrea tion of M arcusi n 2016. In Marc h, Gol dma n a nnou n ce da c o- b ran d ed  cr e dit  card wi th  A ppleInc, w h i ch w ill  con nectit to hundred s o f mi l lio ns of  iPho ne u se rs.
Expand ing A yc o is the next s tepinto the$9tr ill io n U.S .  massaff lue nt cust omer ma r ket  a n d of fers the bank an o pp o r tu nity togain n e wcl i ents che ap ly. 

Th e prima ry c o st  to thebank - de ve lopingth e onli ne  pl atf orm - will  be of fset byfeesc ompanies willp ay to offer t h es e rv i ce t o t heir worker s, G o ldma n ex e cu tiv e s sai d.

S om e  i n vestors fret Goldma nis exp andin g into an are a where it h a s little  exp e ri e nce. They worr y the  bank is m a king $40 ,000personal  loans an d extendin g c red itcar d de bt to iPhoneu s erswh en theeco nomy is  sh owi ngsig ns  of slowi ng.

Gol dm an  t hi nks  othe r wise. Ex ec uti ve s t heres ay the  Ayco  exp an si o n i s parto fa bigg er  p lan,  cu lm inati ng w i ththe lau nch of aret a il w ea lt h manag ement offerin glater this  y ear .

Res t i eri said  it is too early to put numbers  on  thecont ributionthe  expan ded Ayco c ould m ake t ow ard G oldma n ’ s$5bi llion goal . 
In  Nove mb er,the ban k said that it was hal fway toward m eet ingt h at  ta r ge t  an dt hat A yco, along with  private w ea l th  managemen t  an dasset m anageme nt, h a d so fa r contrib uted $400  m illi o n .
ONLINE QUE STIONNAI RE

Ayco’ s  webs i te , cal led  Finan ci alWelln ess, s t art s wit h an o nl ine qu estio nn aire. Em ployees of corporate cl ientssuchasGoogle’spar e ntAlphabetIncanswer que sti ons  like , “ D o you  gen e ra lly livewith i n your me a ns ?”a n d“Do you hav e a n e merge ncy fund?” 

Af ter workers answe r  questions abo ut t h e irsav i ngs,  c redit card deb t,st u d ent loan sand other f inances,  A y co of fers w hat it  callss o lu t ions s uchasMarcus sa vin gs account s,  p e rsonal  loa ns  or pr oducts from o ther financial i nstit u t ions. 
Ad optio nrates a r e aquestion.One company  thatoffe red a  financ ia l ince nti ve  got as mu c h as 60 p ercen t of it sempl oye es touseF i nanci al W el lne ss. Other s ha v ese e n l ower  pick -u p ra tes.

But as Ayco
 base._Its trading_business has been shrinking._In the_first_quarter, the_bank’s_corporate clients helped_it grow mergers_and acquisitions revenue but_overall revenue slumped.

Chief_Executive_David Solomon must deliver on a target of $5 billion in new annual revenue_by_2020 or_risk_getting_squeezed by rival behemoths like_JPMorgan Chase & Co and_Bank of_America Corp. [tmsnrt.rs/2H81K9a]

The bank took its first step_toward_that goal with_the creation of Marcus in 2016. In March, Goldman_announced a co-branded credit card with_Apple Inc, which_will_connect_it to hundreds of_millions of iPhone users.

Expanding Ayco is_the next step into the $9_trillion U.S. mass affluent customer market and_offers the bank an opportunity to_gain new clients cheaply.

The primary_cost to_the bank - developing the_online platform -_will be_offset by fees_companies will pay to offer the_service to their_workers, Goldman executives said.

Some investors fret_Goldman_is expanding into_an_area_where it_has little experience._They_worry the_bank_is making $40,000 personal loans and_extending_credit card debt to iPhone users when_the economy is showing_signs_of slowing.

Goldman thinks otherwise._Executives there say the Ayco_expansion is part of a bigger_plan, culminating_with the_launch of a retail wealth management offering later this year.

Restieri said_it is too early to put_numbers on the contribution_the expanded_Ayco_could make toward_Goldman’s_$5 billion_goal.

In November, the bank said that it_was halfway_toward meeting that target and that_Ayco, along with private_wealth_management and asset management, had so_far contributed $400 million.

ONLINE QUESTIONNAIRE

Ayco’s website,_called Financial Wellness, starts with_an_online_questionnaire. Employees of corporate clients_such as Google’s parent Alphabet Inc_answer questions like,_“Do you generally live within your means?”_and_“Do you have an emergency fund?”

After_workers_answer questions about their savings, credit_card_debt,_student loans and other finances,_Ayco offers what it calls solutions_such as Marcus savings accounts, personal loans or products_from other financial_institutions.

Adoption rates are a question._One_company_that offered a financial incentive got as much as 60_percent of_its employees to_use Financial Wellness. Others have seen lower pick-up rates.

But as_Ayco