Goldman Sachs could soon be synonymous with “day trader.”
Bank analyst Mike Mayo wrote Monday that Chief Executive Lloyd Blankfein’s firm should buy ETrade.
The report suggests the bank needs to deal with pressure from shareholders and the government to diversify its businesses after one of its worst-ever quarters.
Buying the trading platform would increase deposits by $52 billion and increase the number of revenue streams, he said.
Last month, Goldman reported one of its most depressing quarters since going public in 1999. Profit dropped 60 percent year-over-year.
“You have a CEO with expertise at trading when trading’s under pressure,” Mayo told The Post.
The suggested acquisition would follow two recent steps down-market. Last month, the bank opened GS Bank, which offered savings accounts and certificates of deposit for as low as $1. The bank also announced on Monday it would lend to less-affluent customers.
A Goldman spokeswoman declined to comment.