Goldman Sachs Group is set to wind up hedge funds in order to comply with the Volcker Rule, according to the firm’s CEO Lloyd Blankfein.

Speaking at the Bank of America conference, Blankfein said the firm will also begin harvesting private equity but that investment banking will remain its primary focus.

However, Blankfein said that clients would continue to demand some services prohibited under Volcker and that, while Goldman would still be permitted to co-invest with and provide liquidity to it investors, key businesses would no longer be as attractive as they once were.

Volcker Rule does not allow banks to perform their regular businesses such as loans, mortgages while trading on their own behalf.

According to earlier reports, Goldman Sachs was looking to get some of the provisions of the Volcker Rule under which it would allow its clients to deposit money in accounts designated for private equity investment.

The money would then be added up with its own money and that of partners, which is against the formal fund structure, but would allow bank to avoid regulatory interference.