Goldman profit down over a third as boss David Solomon hopes for ‘recovery’ in dealmaking October 17, 2023 Investment banking fees climbed one per cent thanks to an improvement in revenue from debt and equity underwriting.
Goldman boss David Solomon retires high-profile DJ persona October 17, 2023 The Goldman boss, 61, decided to stop DJing a year ago and has not appeared at a notable event since Lollapalooza in Chicago last July.
Goldman, JP Morgan and Bank of America hit with fines for swap reporting failures September 30, 2023 The US Commodity Futures Trading Commission (CFTC) on Friday ordered Goldman Sachs, Bank of America and JP Morgan to pay a total of over $50m to settle charges of swap reporting failures and other violations, the agency said.
Goldman: Bank will likely hold rates after UK inflation surprise September 20, 2023 Goldman Sachs now expects the Bank of England to leave rates on hold tomorrow after this morning's surprise inflation reading.
‘Don’t be a TWaT’: Goldman orders staff to ‘work in the office five days a week’ August 23, 2023 Goldman Sachs has reminded its employees to come into the office five days a week as banks continue the fight to get staff back into the office. The Wall Street giant led the way in demanding that employees come back into work after the pandemic. Boss David Solomon has previously described homeworking as an aberration. [...]
Goldman Sachs weighs investment adviser sale as it doubles down on ultra-rich clients August 21, 2023 Goldman Sachs is weighing the sale of a part of its wealth business catering to high net worth clients, it said on Monday, as it shifts its focus back to serving the ultra-rich. The Wall Street bank is evaluating alternatives for its registered investment adviser unit, called Personal Financial Management (PFM), which manages about $29bn (£22.8bn), [...]
Goldman Sachs’ profit tanks on dealmaking slump and costs tied to consumer arm July 19, 2023 Goldman Sachs’s profit tanked in the second quarter as the investment banking giant continued to struggle with the downturn in M&A activity while booking rising costs. Profit in the second quarter fell to $1.1bn, 62 per cent lower than last year while revenue fell eight per cent. The drop was primarily driven by a decline [...]
Goldman Sachs has a ‘culture of bullying’ according to ex recruitment chief July 17, 2023 Goldman Sachs has been accused of having a “culture of bullying” by a former recruitment executive in the latest example of banks taking flack for their intense work culture. According to The Daily Telegraph, Ian Dodd, who worked for the American banking giant in London between 2018 and 2021, claimed that staff often sobbed through [...]
Investment banking slowdown set to hit Goldman Sachs and Morgan Stanley results this week July 17, 2023 Goldman Sachs and Morgan Stanley will likely report another slowdown in profit on Wednesday and Tuesday respectively amid a continued slump in global dealmaking. Analysts at JP Morgan reduced their earnings per share estimates for Goldman Sachs and Morgan Stanley on “lower IB revenues…with limited cost offset”. The analysts cut Goldman Sachs’s EPS for the [...]
Bank of England to surpass Federal Reserve and hike interest rates to 15-year high May 31, 2023 The Bank of England will have to hike interest rates to their highest level in more than 15 years to tackle sticky inflation that will stay above its target for at least another three years, a top Wall Street investment bank has warned today. Researchers at Goldman Sachs suspect businesses will carry on passing on [...]