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FILE PHOTO: The Goldman Sachs company logo is visible in the space located on the floor of the New York Stock Exchange (NYSE) in New York, United States, April 17, 2018. REUTERS / Brendan McDermid / File Photo
LONDON (Reuters) – Saga, the UK's tourism and insurance company for 50 years and over, announced Tuesday that it would team up with Goldman Sachs on savings products, as part of from a campaign to restore its results after a warning on profits published in April.
Saga said it was one of many initiatives aimed at bringing the company back to its "legacy of providing high quality products and services to its customers."
The company lowered its profit forecast in April, warning that the oldest Britons were cutting back on their travel plans due to Brexit's uncertainties. It was also facing pressure on its margins in the insurance sector and reduced its dividend by hitting its shares.
Marcus, Goldman's retail bank, was launched in Britain in September 2018 and has attracted 250,000 customers, Saga said.
"We know that our clients hold a lot of their wealth in savings and want to know that they are performing well with a brand they can trust," said Saga CEO Lance Batchelor. a statement.
Report by Huw Jones; Edited by Mark Potter
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