Goldman Sachs has said it will delay plans to launch a mass affluent-focused digital wealth management platform, given global unrest caused by the Covid-19 outbreak.

A Goldman Sachs executive, John Waldron, told the Financial Times in New York that the firm was delaying plans for its US digital wealth platform, now likely to go live in 2021 rather than this year as originally proposed.

“While we continue to pursue growth in our overall wealth franchise, we are acting prudently in the current environment,” Mr Waldron told the newspaper.

He also said the firm would delay some planned adviser hiring....