Tag: Goldman

Bitcoin Is Soaring This Year. This Goldman Sachs Skeptic Isn’t Biting. – WSJ

… Wall Street giants including BlackRock and Fidelity have embraced bitcoin, launching funds in January that make it easy for everyday investors to invest in it. Some financial advisers have also begun advising clients to include crypto in their portfolios. Mossavar-Rahmani couldn’t care less what the others do. “We do not think it is an investment asset class,” she said…

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Everything is seating charts – Bloomberg

And there are very fine-grained forms of jealousy here. If you are the co-head of some important business, and you are not on a committee, and the other co-head of that business is on that committee, that is a mortal insult. The Financial Times reports: “Two of Goldman Sachs’ top investment bankers have threatened to quit after being excluded from…

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Goldman Sachs Fires Transaction Banking Chief Hari Moorthy, Others for Lapses – Bloomberg

Goldman Sachs Group Inc. fired transaction banking executives including the head of the business, Hari Moorthy, over compliance lapses, a person with direct knowledge of the matter said. The Wall Street firm terminated several leaders of the unit who communicated on unauthorized channels and didn’t comply with an internal review, according to a memo to employees seen by Bloomberg. Moorthy,…

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Goldman Sachs appellate ruling is boon for securities class action defendants | Reuters

“If a stock price decline follows a back-end, highly detailed corrective disclosure — containing, for example, “hard … incriminatory” evidence regarding the company’s wrongdoing — courts must be skeptical whether the more generic, front-end statement propped up the price to the same extent,” the 2nd Circuit majority said. “Ultimately, a court must determine not just whether the defendant spoke on…

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Fed, SEC Probing Goldman Sachs’s Role in SVB’s Final Days – WSJ

The Federal Reserve and the Securities and Exchange Commission are investigating Goldman Sachs’s role in buying Silicon Valley Bank’s securities portfolio while it was working on its doomed capital raise before the bank’s failure, according to people familiar with the matter. The Justice Department has also subpoenaed Goldman as part of its investigation into SVB, some of the people said.…

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Goldman, Morgan Stanley win dismissal of investors’ Archegos lawsuits | Reuters

A U.S. judge on Friday dismissed seven lawsuits by investors who accused Goldman Sachs Group Inc and Morgan Stanley of market manipulation and insider trading before the collapse of Bill Hwang’s $36 billion Archegos Capital Management LP. U.S. District Judge Paul Crotty in Manhattan rejected claims that the Wall Street banks, two of Archegos’ prime brokers, should be liable for…

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Goldman Sachs bankers have nickname for looming mass layoffs

Goldman Sachs is expected to fire about 3,200 workers starting on Wednesday — a massive bloodbath that bankers at the firm are calling “David’s Demolition Day,” The Post has learned. Word of the layoffs by hard-charging chief executive David Solomon spread at the Wall Street giant’s headquarters in downtown Manhattan on Friday after a partner in the wealth management division…

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