It took more than a decade of trying, but Goldman Sachs last year landed the first client for its business of helping institutions manage their money in Japan.
A second pension signed up in early 2025. Now about 10 more potential customers are in the pipeline, according to Kenro Tsutsumi, head of Goldman Sachs Asset Management Japan.
The sudden influx of business reflects an increased willingness of Japanese institutional investors to hire third parties to help oversee their trillions of dollars in assets. More global financial firms are seeking to offer the service, known as outsourced chief investment officer (OCIO), in a bid to generate stable fee income.
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