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Report: Goldman Sachs to expand Swiss unit's trading activities

New York-based Goldman Sachs Group Inc. plans to expand a Swiss trading unit's broker/dealer activities, Bloomberg News reported, citing "a person with knowledge of the matter."

To do so, the unit's representative office in Switzerland will be upgraded into a branch, subject to approval by the Swiss Financial Markets Supervisory Authority. Bloomberg's source clarified the change will not involve expansion into wealth management or advisory.