(Reuters) – Goldman Sachs Group Inc (NYSE:) is in talks with JetBlue Airways (NASDAQ:) Corp to take over its bank card program, the Wall Road Journal reported on Thursday, citing folks accustomed to the matter.
Goldman is competing in opposition to Barclays (LON:) PLC, which is the present issuer of JetBlue’s bank cards and is in talks with the low-cost airline to carry on to the deal, the report mentioned.
JetBlue’s contract with Barclays doesn’t finish for roughly one other three years, and the airline could resolve to stay with the British financial institution, based on the report.
Goldman declined to touch upon the matter, whereas JetBlue didn’t instantly reply to a Reuters request for remark.
This transfer by Goldman is the most recent in a string of initiatives by the financial institution to cut back its reliance on unstable buying and selling and funding banking companies and shift its focus in direction of its shopper banking unit.
The Wall Road financial institution in February launched Marcus Make investments, an automatic wealth-management platform to speculate buyer funds throughout managed portfolios.
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