Goldman execs may have pay cut over Malaysian fund scandal
Goldman Sachs Group's board is taking steps to slash its top executives' 2018 compensation, depending on the outcome of investigations into the investment bank's role in the ransacking of a multibillion-dollar Malaysian state investment fund.
Goldman Sachs reshuffles top leadership
Goldman Sachs, which is getting a new CEO next month, announced it is overhauling the rest of it leadership team.
The company said Thursday that insider John Waldron will become the firm's president and chief operating officer beginning in October. Stephen Scherr, CEO of Goldman Sachs Bank USA, will become chief financial officer for the firm in November. And R. Martin Chavez, another company veteran, will become vice chairman of the firm and co-head of the securities division.
NEW YORK (AP) — Another Wall Street veteran of the financial crisis is stepping aside: Lloyd Blankfein is retiring as CEO of Goldman Sachs after 12 years at the helm of the storied investment bank.
Blankfein will give way to David Solomon, a long-time Goldman executive who has been considered Blankfein's chosen successor since earlier this year. Solomon will assume the CEO role from Blankfein on Oct. 1 and become chairman of Goldman in 2019.
NEW YORK (AP) — Goldman Sachs' profits jumped 44 percent in the second quarter compared with a year ago, driven by the investment bank's core franchises: advising companies on mergers, acquisitions and other deals, and its trading business.
Goldman also said Tuesday that Chief Executive Officer Lloyd Blankfein will retire on Sept. 30 and be replaced by David Solomon, the president and chief operating officer. Blankfein has been CEO since 2006.
NEW YORK (AP) — Goldman Sachs said Monday that Harvey Schwartz, its co-chief operating officer, will retire next month, clearing the way for David Solomon to eventually become the next chief executive of the Wall Street firm.
Schwartz and Solomon jointly hold the positions of co-chief operating officer and president. Both had been considered likely successors to Lloyd Blankfein, the current CEO.
NEW YORK (AP) — Goldman Sachs Chief Executive Officer Lloyd Blankfein has started plans to retire and could do so as soon as the end of this year, The Wall Street Journal reported Friday.
However, Blankfein distanced himself from the Journal's story, joking on Twitter, "I feel like Huck Finn listening to his own eulogy."
‘Macron effect’ fuels Paris bid for post-Brexit business
PARIS (AP) — Banking giant Citigroup, fast food master KFC and elevator-maker Otis are planning to expand activities in France thanks in part to what they call the "Macron effect" - a surge in investor optimism driven by the French president's pro-business promises.
But will they move their European headquarters to Paris after Britain pulls out of the EU? Not so fast.
Goldman CEO takes to Twitter again to warn about Brexit
LONDON (AP) — The CEO of Goldman Sachs has warned for the second time in two weeks about the dangers of Britain's departure from the European Union.
Lloyd Blankfein tweeted an aerial view of the Goldman headquarters building under construction in London, suggesting the bank may not be able to fill it when it opens in 2019.
Blankfein tweeted: "In London. GS still investing in our big new Euro headquarters here. Expecting/hoping to fill it up, but so much outside our control.#Brexit."
CEO of Goldman Sachs hints at further Brexit move
LONDON (AP) — The CEO of Goldman Sachs has hinted the banking giant could be sending more jobs from London to Frankfurt following Britain's exit from the European.
Lloyd Blankfein tweeted on Thursday that Germany's financial hub may be gaining more of his attention. He wrote, "Just left Frankfurt. Great meetings, great weather, really enjoyed it. Good, because I'll be spending a lot more time there. #Brexit."
Goldman Sachs results beat estimates, helped by trading
NEW YORK (AP) — Goldman Sachs reported fourth-quarter earnings that beat analysts' forecasts Wednesday as the bank recovered from a difficult quarter a year earlier. Results were particularly strong at Goldman's trading desks in the last three months of the year.
NEW YORK (AP) — Goldman Sachs' earnings jumped 78 percent from a year ago as the bank's legal expenses declined and its trading desks saw a surge of activity during Britain's vote to leave the European Union.
The investment bank said Tuesday it had a second-quarter profit of $1.63 billion after dividends to preferred shareholders, or $3.72 per share, up from $916 million, or $1.98 per share, in the same period a year ago.