With the move, Goldman aims to do more than sell just its own products. Goldman Sachs has created a platform on which rivals can sell their products . In the same way iPhone users can choose to use Google Maps instead of Apple 's mapping tool , retail brokers in the US can buy structured products from Well ##come or Citigroup through the Goldman platform . Goldman , which stands for Structured Investment Banking and Distribution Network , is the result of an initiative set up four years ago by CEO Lloyd Blankfein for Goldman to use , to become a “ low - cost provider ” of banking services .
Goldman Sachs has created a platform on which rivals can sell their products . In the same way iPhone users can choose to use Google Maps instead of Apple 's mapping tool , retail brokers in the US can buy structured products from Well ##come or Citigroup through the Goldman platform . Goldman , which stands for Structured Investment Banking and Distribution Network , is the result of an initiative set up four years ago by CEO Lloyd Blankfein for Goldman to use , to become a “ low - cost provider ” of banking services .