Goldman’s CIO Service Gains Traction in Japan After a Decade

The Goldman Sachs Group, Inc. (NYSE:GS) is one of the best Dow stocks to invest in.

After more than ten years of effort, the company secured its first institutional asset management client in Japan last year. A second pension fund followed in early 2025, and roughly 10 more potential clients are now in the pipeline, according to Kenro Tsutsumi, head of Goldman Sachs Asset Management Japan.

This recent uptick in interest highlights a growing trend among Japanese institutional investors to outsource the management of their vast assets. As a result, more global financial firms are entering the market for outsourced chief investment officer (OCIO) services in hopes of earning steady fee-based revenue.

In Japan, The Goldman Sachs Group, Inc. (NYSE:GS) faces competition from other major players like BlackRock Inc. and Mercer Inc., a subsidiary of Marsh & McLennan, both of which have also recently landed significant clients in the space.

Tsutsumi, who stepped into his current role at the start of 2024 and has over 20 years of experience at Goldman, noted that the firm’s edge in the OCIO market lies in its ability to offer in-house investment products spanning both traditional and alternative assets. While he didn’t disclose the names of Goldman’s Japanese clients due to confidentiality, he emphasized the firm’s strategic focus on expanding its asset and wealth management footprint in Japan, particularly by managing a portion of assets for corporate pensions and insurance firms. Senior leadership views Japan as a key growth market within the newly restructured division.

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