Gold Bullion International appoints former Goldman Sachs partner CEO
Steven Feldman, a former Goldman Sachs partner, has been appointed CEO of precious metal provider to wealth managers Gold Bullion International (GBI), with Eric Schwartz joining as chairman.
Feldman co-founded GBI in 2009, and has now joined the company full time. During his time at Goldman Sachs he specialised in real assets, founded the bank’s global infrastructure fund business, and co-founded its agricultural land venture.
Schwartz is adding the board role at GBI to his other current roles as chairman of insurer Jefferson National, director of online consumer lending platform Prosper Marketplace, and Indian finance company Indostar Capital Finance. Schwartz is another Goldman Sachs alumni, previously co-heading the bank’s Investment Management and Global Equities Division.
Feldman said: “Results continue to prove that physical gold is a critical part of a well diversified investment portfolio, especially given today’s macro risks. Yet gold and other precious metals remain substantially under-owned, as they have been historically misunderstood and difficult to buy. GBI eliminates barriers to ownership by providing an institutional voice and offering, which enable investors to confidently purchase these precious metals.”
GBI operates a platform that enables investors to acquire and manage physical precious metals, either directly through GBI or via investors’ own wealth managers.
The metals are acquired from refiners via the London Bullion Market Association (gold and silver) and London Platinum and Palladium Market (platinum and palladium), as well as through Chicago Mercantile Exchange (CME) recognized refiners of COMEX bars. These are stored in insured vaults in New York, Salt Lake City, London, Zurich, and Melbourne.