Goldman Sachs Asset Management is mulling the sale of its Australian investment business, which include equities and fixed income.
According to media reports, the American banking giant is currently reviewing options that could include a sale or a management buyout.
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The fund management business currently manages nearly A$9bn ($6.47bn) and employs nearly 40 people.
"In Australia, we believe the next level of growth for the domestic managed product business could be best achieved under new ownership," Goldman Australia chief Simon Rothery said.
However, plans are on to retain the unit’s institutional sales team to support clients and the global business. The bank has not made any decision on the sale.
However, Goldman Sachs will continue to operate its corporate advisory and securities businesses in Australia.
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By GlobalDataLast year, the US banking group agreed to sell its Indian fund business for $37.5m.
