GenevaLunch » Goldman Sachs

Goldman Sachs London fined for poor disclosure

Sean Ecker — Thu, 09 Sep 2010 09:30:37 +0000

GenevaLunch.com The London unit of Goldman Sachs has been fined £17.5 million for failing to disclose that it was under investigation for fraud in the USA by the US Securities and Exchange Commission (SEC) in the marketing of certain collateralized debt obligations. The UK’s financial services regulator, FSA, fined the firm for controls weaknesses leading to [...]

Goldman Sachs London fined for poor disclosure © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Goldman managers get bonuses in stock

Ellen Wallace — Fri, 11 Dec 2009 08:11:26 +0000

GenevaLunch.com Goldman Sachs executives who are expected to receive some $20 billion in bonuses in 2009 will receive the payments in the form of company shares that they cannot sell for five years, the New York-based group said Thursday 11 December. Goldman has been at the centre of a heated public debate over compensation to managers [...]

Goldman managers get bonuses in stock © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

NY Times lashes out at Goldman Sachs

Ellen Wallace — Mon, 23 Nov 2009 08:36:31 +0000

GenevaLunch.com The New York Times in a hard-hitting weekend article lashed out at Goldman Sachs and suggested that the bank should forget about employee bonuses and make a major donation to the US government. It points out that while the bank has repaid $10 billion, it owes taxpayers far more than that, and it calls the [...]

NY Times lashes out at Goldman Sachs © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Goldman sets up small business aid, apologizes

Ellen Wallace — Wed, 18 Nov 2009 12:43:09 +0000

GenevaLunch.com US bank Goldman Sachs is fighting a backlash against its plans to share profits with staff by opening a fund that will use the equivalent of about 2.3 percent of staff remuneration, or $500 million to help 10,000 small businesses. The bank Tuesday 17 November apologized publicly for the role it played in the global [...]

Goldman sets up small business aid, apologizes © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Swiss Re places $290 million in Mexico catastrophe bonds

Sean Ecker — Wed, 21 Oct 2009 12:12:20 +0000

GenevaLunch.com Zurich, Switzerland (GenevaLunch) – Swiss Re, a major Swiss reinsurance company, announced 20 October it had issued $290 million in catastrophe bonds for Mexico in four categories, or tranches, together with Goldman Sachs. The bonds allow Mexico to plan for catastrophes like hurricanes and earthquakes and pass on the costs to private investors. It is [...]

Swiss Re places $290 million in Mexico catastrophe bonds © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

UBS hires new investment head; stock market to investigate bank

Ellen Wallace — Fri, 18 Sep 2009 08:52:36 +0000

GenevaLunch.com Zurich, Switzerland (GenevaLunch) – Bank UBS is making headlines again but for two separate reasons: the bank told Dow-Jones it has hired Matthias Frisch as the new head of its Swiss Investment Banking arm. He replaces Andy Haeberli and comes from Horizon21 and previously spent 14 years with Goldman Sachs. And the Swiss Stock Exchange [...]

UBS hires new investment head; stock market to investigate bank © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Goldman Sachs partners’ stock sales hit $700m during bailout

Ellen Wallace — Tue, 14 Jul 2009 04:49:26 +0000

GenevaLunch.com The Financial Times reports that Goldman Sachs executives are likely to come under fire from US lawmakers over the sale of $700 million in stock by senior executives last September, when the investment company was still benefiting from a $10 billion bailout from the government. The company is now expected to show a profit for [...]

Goldman Sachs partners’ stock sales hit $700m during bailout © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

US financials: back to business as usual mode?

Sean Ecker — Fri, 10 Jul 2009 07:51:10 +0000

GenevaLunch.com US financial powerhouse Goldman Sachs may beat its 2007 record earnings in trading revenues this year, according to analysts, after receiving $10 billion in government money earlier this year to sell its bonds. The money has since been paid back. Income from trading, in a market where many others still fear to tread, may be [...]

US financials: back to business as usual mode? © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

BRIC nations hold first summit, dollar alternative on agenda

Ellen Wallace — Mon, 15 Jun 2009 05:55:47 +0000

GenevaLunch.com The four emerging major markets known as the BRIC nations are holding their first summit this week in Moscow to discuss common issues, one of which is the idea of an investment alternative to the US dollar. Brazil, Russia, India and China together account for 15 percent of the $60.7 trillion global economy, reports Reuters, [...]

BRIC nations hold first summit, dollar alternative on agenda © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.

Goldman Sachs boss suggests pay reforms

Ellen Wallace — Wed, 08 Apr 2009 05:36:09 +0000

GenevaLunch.com In a speech to the Council of Institutional Investors in the US, pocked by protestors’ jeers and boos aimed at the protestors, Goldman Sachs CEO Lloyd Blankfein suggested that Wall Street and banking firms need to dramatically change compensation packages, among other reforms. Reuters The Financial Times reports that in his speech he argued that [...]

Goldman Sachs boss suggests pay reforms © genevalunch.com, Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.