Goldman Sachs wins $70 billion retirement-asset mandates from Verizon and Lockheed Martin

According to CNBC, Goldman Sachs said Thursday it won mandates to manage a combined $70 billion in retirement assets for Verizon Communications and Lockheed Martin, including about $30 billion in pension assets and $40 billion in Verizon defined-contribution retirement assets. Goldman said its outsourced chief investment officer business had about $480 billion in assets as of March 31, and its broader asset and wealth management division oversees roughly $3.7 trillion.