{"id":4856,"date":"2026-07-09T14:59:30","date_gmt":"2026-07-09T14:59:30","guid":{"rendered":"https:\/\/www.finznest.com\/blog\/goldman-sachs-wins-70b-in-asset-management-for-verizon-lockheed-martin\/"},"modified":"2026-07-09T14:59:30","modified_gmt":"2026-07-09T14:59:30","slug":"goldman-sachs-wins-70b-in-asset-management-for-verizon-lockheed-martin","status":"publish","type":"post","link":"https:\/\/www.finznest.com\/blog\/goldman-sachs-wins-70b-in-asset-management-for-verizon-lockheed-martin\/","title":{"rendered":"Goldman Sachs wins $70B in asset management for Verizon, Lockheed Martin"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108221165\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Marc Nachmann, Goldman Sachs global head of asset and wealth management.<\/p>\n<p>CNBC<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Goldman Sachs<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> said Thursday it won deals to manage a combined $70 billion in retirement assets for <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\">Verizon Communications<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-3\">Lockheed Martin,<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> one of the larger recent announcements in the fast-growing market for outsourced corporate investing.<\/p>\n<p>The mandates include about $30 billion in pension assets for Verizon and Lockheed Martin and $40 billion in Verizon defined-contribution retirement assets, which are typically 401(k)s, according to Goldman.<\/p>\n<p>The moves underscore how some of America&#8217;s largest employers are increasingly handing responsibility for managing retirement assets to outside firms like Goldman as portfolios become more complex and require expertise across public and private markets.<\/p>\n<p>Competition in the multitrillion-dollar market for retirement assets is fierce among managers including Goldman, <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\">BlackRock<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, Russell Investments and <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-5\">Mercer<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, because the long-term institutional mandates generate steady fee revenue.<\/p>\n<p>By growing that business, Goldman hopes to increase its share of revenues that are seen as stable and recurring, unlike the more volatile trading and investment banking operations.  <\/p>\n<p>&#8220;Large plan sponsors are consolidating responsibilities with one partner with the investment expertise and depth of platform to manage their bespoke needs,&#8221; Marc Nachmann, Goldman&#8217;s global head of asset and wealth management, said in a statement.<\/p>\n<p>Goldman&#8217;s outsourced chief investment officer business had about $480 billion in assets as of March 31, while the firm&#8217;s broader asset and wealth management division oversees roughly $3.7 trillion worth of investments.<\/p>\n<\/div>\n<div class=\"ArticleBody-googlePreferredSourceContainer\" data-module=\"GooglePreferredSource\" data-id=\"RegularArticle-GooglePreferredSource-5\">Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Marc Nachmann, Goldman Sachs global head of asset and wealth management. CNBC Goldman Sachs said Thursday it won deals to manage a combined $70 billion in retirement assets for Verizon Communications and Lockheed Martin, one of the larger recent announcements in the fast-growing market for outsourced corporate investing. The mandates include about $30 billion in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3594,806,604,3596,1352,3597,605,3595,1657],"class_list":["post-4856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-70b","tag-asset","tag-goldman","tag-lockheed","tag-management","tag-martin","tag-sachs","tag-verizon","tag-wins"],"_links":{"self":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/posts\/4856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/comments?post=4856"}],"version-history":[{"count":0,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/posts\/4856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/media\/4857"}],"wp:attachment":[{"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/media?parent=4856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/categories?post=4856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.finznest.com\/blog\/wp-json\/wp\/v2\/tags?post=4856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}