Goldman Sachs is on track for a record full-year profit after a week of skyrocketing bank earnings from a boom in dealmaking, reported the Financial Times.
The group registered third-quarter earnings per share of $14.93 on a net income that increased from $3.4bn in 2020 to $5.4bn this year.
As reported by the paper, the group’s revenue registered a year-on-year jump from $10.8bn to $13.6bn as a result of a rush to deal making experienced all across Wall Street. Goldman Sachs closed yesterday at $406.07, a 3.80 per cent increase from its opening at $402.31.
The firm made UK headlines this week when it sold insurance broking firm Aston Lark to Howden.
The deal – which is worth £1.1bn according to those close to the firms – will grant Howden access to Aston Lark’s client base and will make Aston Lark’s chief executive Peter Blanc executive chairman of Howden’s retail broking operations.
“The completion of our UK Broking platform is a deal a decade in the making and I’m thrilled that Aston Lark’s highly respected and experienced management team has chosen Howden as its final home,” commented David Howden, Howden Group’s chief executive.