Goldman Sachs Group Inc.
GS,
is weighing whether to leave its partnership with Apple Inc.
AAPL,
amid a broader retreat from consumer banking, the Wall Street Journal reported on Friday. The Journal, citing people familiar with the matter, said Goldman was seeking ways to hand off its Apple credit card and other initiatives from the partnership to American Express Co.
AXP,
Goldman has also considered offloading its card partnership with General Motors Co.
GM,
to American Express or another card issuer, the Journal reported. But any deal isn’t guaranteed, and would require Apple’s approval, the Journal said. Shares of Goldman Sachs were down 0.2% after hours. Shares of Apple, which ended Friday trading with a $3 trillion valuation, inched 0.1% lower after hours.
