Why partnerships are key to GSAM's ambitions

Why partnerships are key to GSAM’s ambitions

Goldman Sachs Asset Management has more than doubled AUM in its third-party distribution business in less than five years. Nick Phillips, GSAM's managing director and head of EMEA third-party distribution, tells Hardeep Tawakley how this was achieved.

“Aggressive” and “quick” are the two words Nick Phillips, managing director of Goldman Sachs Asset Management, and head of EMEA third-party distribution, uses to describe the group’s growth over the past five years. It would be hard to argue with him. In December 2009, assets under management for the group’s third-party distribution business stood at $18.5bn. This is no small number in itself but, in 2011, Phillips set a five-year plan in motion which saw the group focus on a new strategy to grow its wholesale business in Europe. Four years later and the group has more than doubled AUM t...