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DealBook Afternoon Edition -November 13, 2012.: Goldman Ponders a Leaner Future

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Tuesday, November 13, 2012 TOP STORY Under New Rules, Goldman Ponders a Leaner Future Goldman Sachs is looking for fewer touches, at least in one sense. The firm is relying more on technology and reducing expenses as it contends with new regulations and an uncertain market, said Lloyd C. Blankfein, Goldman's chief executive, at the Bank of America Merrill Lynch Banking & Financial Services Conference in Manhattan on Tuesday. In the firm's equities business, for instance, Mr. Blankfein said that 60 to 70 percent of shares are now traded through "low-touch" channels, without the direct involvement of people. Electronic execution accounts for significant portions of activity in the firm's cash fixed-income business as well, Mr. Blankfein said at the conference, which is intended to give Wall Street analysts a broad look at the industry. The commitment to new technology is part of a broader effort to streamline the investment firm. Wit