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CBA and Goldman Sachs form equities partnership

Commonwealth Bank is scaling back its institutional equities business in favour an alliance with investment bank Goldman Sachs. CBA said in a statement yesterday that Goldman Sachs equity capital markets and investment research would be made available to CommSec and Commonwealth Private Bank customers.The partners will also service the equity capital market needs of CBA's corporate customers.According to reports, about 50 CBA staff will be affected by the closure of its institutional equities business.

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