Goldman Sachs shutters Russia business, first major Wall Street bank to leave after Ukraine war

Goldman Sachs shutters Russia business, first major Wall Street bank to leave after Ukraine war

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A sign is displayed in the reception area of Goldman Sachs in Sydney, Australia.
David Gray | Reuters

This is a developing story. Check back for updates.

Goldman Sachs says it is exiting Russia, becoming one of the first major global investment banks to do so after the country invaded its neighbor Ukraine last month.

The bank said Thursday in an e-mailed statement that it is working to wind down operations in Russia.

“Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements,” said a bank spokeswoman. “We are focused on supporting our clients across the globe in managing or closing out pre-existing obligations in the market and ensuring the wellbeing of our people.”

With reporting from CNBC’s Jim Forkin.

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