Goldman’s investment bank to increase Black staff hiring, recruitment

NEW YORK – Goldman Sachs Group Inc’s investment bank formed a new group to increase its recruitment and hiring of Black employees and improve career development and retention among existing Black employees, according to a memo sent on Tuesday that was seen by . A Goldman spokeswoman, Nicole Sharp, verified the contents of the memo and said the new group will work on honing and improving diversity targets set in 2019 specifically for the investment…

"Goldman’s investment bank to increase Black staff hiring, recruitment"

Goldman Sachs says it’s climbing toward Fed’s capital demands

NEW YORK – Goldman Sachs Group Inc has already boosted capital measures and is working to meet the Federal Reserve’s benchmark for October, the Wall Street bank said in a statement on Monday. Investors and analysts were eager to hear Goldman’s announcement because the bank fared worse than rivals on the Fed’s stress test last week, sending its share price tumbling. The Fed examined big banks’ balance sheets to see if they had enough funds…

"Goldman Sachs says it’s climbing toward Fed’s capital demands"

Goldman Sachs increases COVID-19 federal aid commitment by $250 million

– Goldman Sachs Group Inc on Monday pledged an additional $250 million to fund the federal aid program to help businesses hurt by the COVID-19 pandemic. The addition will take the bank’s total commitments to $775 million. The Paycheck Protection Program was launched in April as the United States government rushed to get cash to millions of desperate borrowers. Goldman, which is not an approved small business loan provider in the United States, will not…

"Goldman Sachs increases COVID-19 federal aid commitment by $250 million"

Goldman traders gain $1 billion in commodities revenue after oil slump

– Goldman Sachs Group Inc commodities unit generated more than $1 billion in revenue this year through May as traders positioned their bets for the collapse in oil prices, a source familiar with the group’s finances said on Wednesday. The gains were largely driven by oil trading, the source said, though other commodities, including natural gas, power and precious metals contributed, the source said. Oil prices plunged to their lowest in years in a dramatic…

"Goldman traders gain $1 billion in commodities revenue after oil slump"

‘How it’s going …’ Goldman executive’s email on racial inequality in America

– Frederick Baba, a managing director at Goldman Sachs who is black, sent the following email to colleagues at the bank on June 2: “To everyone who’s asked me some variant of “how’s it going?” over the past month, I’ve probably lied. Or lacked the words to articulate it fully, but I’m giving it a shot. Obviously my experience is just one along a continuum of black experiences, and I don’t presume to speak for…

"‘How it’s going …’ Goldman executive’s email on racial inequality in America"

Goldman Sachs executive’s email making plea for racial equality goes viral at firm

– An email by a Goldman Sachs Group Inc employee about his experiences of racial injustice and criticizing managers at the Wall Street bank for not supporting junior bankers from diverse backgrounds went viral at the firm this week. The email by Frederick Baba, a managing director at the bank who is black, coincides with other Wall Street executives and companies speaking out against racial inequality after the death of an African American man, George…

"Goldman Sachs executive’s email making plea for racial equality goes viral at firm"

Breakingviews – BlackRock is becoming the new, old Goldman Sachs

NEW YORK ( Breakingviews) – It’s a force in myriad global markets. It’s the default source for governments needing advice on the biggest financial questions. Its sprawl means that sometimes it seems to be on both sides of certain dealings. That’s Goldman Sachs, before and during the financial crisis of 2008-2009. It also describes another company today: investment manager BlackRock. With some $7 trillion under management, Larry Fink’s mutual and exchange-traded fund specialist is by far…

"Breakingviews – BlackRock is becoming the new, old Goldman Sachs"

Goldman Sachs president says bank on track to meet growth goals

NEW YORK – Goldman Sachs Group Inc President and Chief Operating Officer John Waldron said Wednesday that the bank remains on track to achieve its medium and long term growth targets despite the economic shocks caused by the novel coronavirus. However, the economic shutdown has caused some negative impacts, and the bank will be slowing down hiring plans for its private wealth management division and delaying the launch of a digital wealth management product to…

"Goldman Sachs president says bank on track to meet growth goals"

Goldman Sachs to buy boutique wealth management custodian Folio

NEW YORK – Goldman Sachs Group Inc plans to buy a boutique wealth management custodian and technology company called Folio Financial Inc for an undisclosed amount of money, according to a letter that Folio sent to its customers on Thursday and was viewed by . Folio would be the second wealth management company Goldman has acquired in two years, following United Capital in 2019, and it fulfills Chief Executive David Solomon’s goals to build out…

"Goldman Sachs to buy boutique wealth management custodian Folio"

Goldman Sachs looks to buy private company holdings from Invesco: Sky News

– Goldman Sachs is in talks to buy a large group of company stakes being sold by asset manager Invesco as it looks to shift illiquid holdings whose value has been hit by the COVID-19 disease outbreak, Sky News reported citing sources. The holdings are valued at several hundred million pounds, the report said A unit of Goldman Sachs Asset Management is close to buying the stakes, which include a holding in Oxford Nanopore, a…

"Goldman Sachs looks to buy private company holdings from Invesco: Sky News"