Goldman Sachs' Securities Services Revenue Falls in 2013

While Goldman Sachs total net revenue increased slightly from $34.16 billion in 2012 to $34.21 in 2013, net securities services revenue fell sharply, primarily due to the sale of the firm’s hedge fund administration business to State Street in 2012.
By Jake Safane(2147484770)
While Goldman Sachs total net revenue increased slightly from $34.16 billion in 2012 to $34.21 in 2013, net securities services revenue fell sharply, primarily due to the sale of the firm’s hedge fund administration business to State Street in 2012.

For the year, securities services revenue, measured $1.37 billion, compared to $1.98 billion in 2012, a 31% drop. However, the majority of the difference comes from the $494 million gain in 2012 revenue from the sale of the hedge fund administration business.

For the fourth quarter of 2013, securities service revenue also fell slightly, moving from $340 million in Q3 2013 to $337 million in Q4, a 1% drop. Compared to the $818 million in Q4 2012, the quarter that included the sale of the hedge fund administration arm, securities services revenue fell 59%.

«