NEWS17 August 2012

Goldman Sachs shuts Hudson Street Services

Financials UK

UK — Goldman Sachs Group has confirmed it is to close its research company Hudson Street Services, which offered data and independent research to investors and it will sell its minority stakes in most firms producing research.

Goldman Sachs said it made the decision because of a lack of interest from clients. In a statement the company adds: “Hudson Street no longer exists for the simple reason that weak demand from our clients did not warrant continuing the effort.”

Companies involved in the Hudson Street initiative included technology researcher iSuppli, which in 2007 announced an agreement to offer its reports and data through the firm and healthcare information firm Epocrates, which joined in 2008.