Tag: investment bank

May 30, 2023

Goldman Sachs is considering another round of job cuts amid a muted dealmaking environment that has dented revenues across Wall Street. The investment bank is working on what would be its third round of job cuts in under a year, […]

January 9, 2023

Goldman declined to comment on the reported cuts, but a source within the bank confirmed to Banking Dive the round of cuts will not exceed 3,200. That figure is lower than the 4,000-employee ceiling Semafor and other news outlets reported […]

October 27, 2022

Credit Suisse plans to cut 9,000 jobs over the next three years as part of a wide-ranging revamp it announced Thursday. About 2,700 of those cuts will come in the fourth quarter, the bank said. Credit Suisse also outlined its […]

January 14, 2022

JPMorgan Chase posted a decline in trading revenue that was steeper than analysts expected, and both commercial and consumer loans fell from a year earlier. Shares of the company dropped after the firm reported a 16% slide in fixed-income trading […]

September 14, 2021

Scherr is retiring after almost three decades with Goldman Sachs. He first joined the New York City-based bank as an associate in 1993, and served in a number of roles at the firm before rising to CFO in 2018. Notably, […]

December 15, 2020

The prospect of moving teams to lower-cost areas isn’t new. Goldman Sachs, for example, has based staff in Salt Lake City since 2000. Dallas, too. And last week, it reportedly was considering moving its asset-management arm to South Florida. Executives […]

November 11, 2020

JPMorgan is not the only big U.S. bank to settle with the OFCCP this year. Wells Fargo agreed in August to make job offers to 580 applicants and pay $7.8 million in back wages and interest to settle allegations of […]

May 18, 2020

The development was first revealed in a tweet by the publication’s senior correspondent, Charles Gasparino, saying that sources told him Goldman Sachs’ “weakening biz model” would “force a merger.” The report highlights that the need for Goldman to grow, particularly […]

April 10, 2020

Goldman Sachs is taking another step into the world of retail banking with an installment loan product that’s launching with JetBlue Airways. The bank quietly released a website for something called MarcusPay this week, allowing users to break up big-ticket […]

May 20, 2019

Shares of Deutsche Bank hit a record low Monday, down nearly 3%, after UBS downgraded the German lender’s stock to a “sell” rating from “neutral.” Pointing to tough external events and the low interest rate environment, UBS slashed its price […]

June 4, 2018

Goldman Sachs thinks higher interest rates and deregulation will be music to the ears of investors in banks. The investment bank’s chief equity strategist David Kostin expects the S&P 500 to rise by 5% to 2,850 by year end. Kostin […]

May 3, 2018

The push for widespread adoption of cryptocurrencies got a boost Wednesday when U.S. investment bank Goldman Sachs Group GS, -1.80% announced it would be opening a cryptocurrency trading desk. In an interview with the NY Times, Goldman executive Rana Yared, […]