Nomura, Goldman Move Investment Bankers to Asia to Tap Growth
The Bottom Line:
Nomura, along with Goldman Sachs, and Bank of America are moving their investment bankers who specialize in advising financial-services companies, to Asia. Banks and insurers in Asia have been selling a record amount of shares.
Buyout Firms’ Reinvention, With Wall St. Castoffs
Numerous firms on Wall Street, including Goldman Sachs and Citigroup, are unloading businesses to abide by the new banking rules.
The New York Times, September 10, 2010
Jim O’Neill, the Goldman Sachs economist best known for coining the BRIC acronym, has been named chairman of the firm’s asset management business.
Mr. O’Neill, 53, will remain based in London and will report to Ed Forst and Tim O’Neill, co-heads of the firm’s investment management division, which includes Goldman Sachs Asset Management. The asset management business oversees $802 billion in assets.
This fall, in a secretive process, some 100 executives will be chosen to receive this golden ticket, bestowing rich pay packages and an inside track to the top jobs at the company.
What few outside Goldman know is that this ticket can also be taken away.
Lloyd Blankfein
Mark DeCambre, The New York Post, September 9, 2010
Maybe Lloyd Blankfein is Wall Street's best boss or maybe fat bonuses actually buy employee happiness.
Either way, Goldman Sachs, the richest bank on Wall Street, is considered the best financial firm to work at, according to an online survey by employee consulting site Vault.com.
Blankfein's investment bank beat out other "Masters of the Universe," such as Steve Schwarzman's private-equity firm The Blackstone Group, which , which ranked second, and Jamie Dimon's JPMorgan Chase at No. 3.
The bank with the Midas touch has seen its reputation tarnished after regulators accused it of fraud in connection with the design and marketing of a subprime mortgage security in which investors lost about $1 billion. Lawmakers questioned its business practices and portrayed Goldman as a firm that favors its own interests over those of its clients.
Henry Blodget, Business Insider, April 30, 2010
Goldman Sachs (GS) has lost more than $21 billion of market value since the SEC filed its fraud charges two weeks ago.
Today's news that the Justice Department has opened a criminal probe into the company knocked off $8 billion of that.
Boards of directors pay attention to these things, as do shareholders. (Believe me–I speak from experience on this one.)
People are placing these bets and putting their money down atIntrade.com, an online prediction market where wagers can be made on real-world events.
The Wall Street Job Report 