Paterson says the company's decision bolster's the city's position as a financial capital.
Goldman Sachs Bank USA will combine the financial giant's New York-chartered trust company, Goldman Sachs Trust Co., with its Utah-based industrial loan company and a number of other Goldman businesses.
The commercial bank will have about $150 billion in assets. The loan company will retain a branch in Utah.
Goldman Sachs has been based in New York City since it was founded in 1869.
--- On the Net: www.banking.state.ny.us.