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We're joined by Bloomberg finance reporter Katherine Doherty. Is this considered a win for Goldman, or is Goldman just putting yourself out there with potential risk and riskier products just coming to market now as well? So I actually think that this product is intentionally meant to manage the risk. It's giving some upside, but it is capping at the downside. So this acquisition is giving them access to options based ETFs.

Um, this has grown organically and this is one of the biggest providers of such product. So for Goldman they had the choice of either to build their own in-house organically or do what they did today, which is acquire an established player and add into their now expanding offering within their asset management business of ETF products. So that's what you're seeing, um, with this $2.25 billion acquisition. Sizable. No doubt.

Um, let's step back here. What does it say kind of directionally about the tack that Goldman is taking? I do think that there has been a shift, especially that Goldman has shown with its pocket book to ETF products. So again we have a lot of asset managers even outside of Goldman that are looking at ETFs as an attractive product because you can get substantial upside. Um, but also with certain products like this one, you can manage the risks of the downside so you get exposure.

Um, but it's not just direct exposure to stocks or to indexes and, uh, major fluctuation that could occur if you are in individual, um, performers. Uh, so today when you are announcing, uh, a big acquisition like this, Goldman is just adding into, um, what it can offer to both its clients and, um, institutional partners. So what does Neil specialize in? Why do Goldman go for this particular ETF provider was the only one for sale I mean, I'm sure in art, right.

So they are specializing in options based ETFs. Um and this has some yield that they can take advantage of. Um and they're bringing in their team. The executives at this company are going to join, uh, Goldman's partner, uh, ship, and they're going to remain on. So presumably their leadership, uh, and their advice is sought after. The Goldman is not just acquiring this to add in the assets. They also really want to have the expertise from the leadership as well.

I remember reading Lloyd Blankfein memoir, and he talked about how he was a jr. And it was brought into to Goldman, and it was, uh, an uncomfortable and uneasy integration of that company into Goldman. Has it gotten better at this, acquiring companies and kind of finding a kind of cultural unanimity that that works? I do think so. Uh, late last year, they acquired another ETF provider. So this is not the first time that they have done this.

Um, it seems like in naming again their leadership to Goldman's partner list, they are embracing, um, the outside you could say. So I think that that does signal, um, at least from, from uh, an outside observers perspective, um, and embrace rather than resistance to change.