Lauren's Feed
Dec 18, 2014

Goldman’s Waldron promoted to co-head of investment banking

NEW YORK (Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) has promoted John Waldron to co-head of its investment banking business, replacing John S. Weinberg, a vice chairman whose family has been in the senior echelons of the investment bank since the 1920s.

Weinberg, 57, is moving to a company-wide client development role, Goldman said on Thursday. He will remain a vice chairman and stay on several powerful committees, including the management committee and business standards committee.

Dec 1, 2014

Coeur Mining in talks to acquire Paramount Gold-sources

Nov 30 (Reuters) – Coeur Mining Inc, the biggest
U.S. producer of silver, is in advanced negotiations to acquire
Paramount Gold and Silver Corp, according to people
familiar with the matter, as it seeks to expand its mining
footprint in Mexico.

The talks are the latest sign of low metal prices driving
mining companies into consolidation, as they strive to lower
their cost base, expand their deposits and become more
profitable.

Nov 17, 2014

Fund manager sees risk in exploration stocks

NEW YORK (Reuters) – Energy exploration and production stocks are poised to tumble in 2015, especially if the price of oil continues to fall, hedge fund manager Michael Corcelli said on Monday.

“One of the cheapest ways to get paid hedging stock market exposure is to short E&P stocks – the small ones with excessive leverage,” Corcelli, who is founder and managing partner of Miami-based Alexander Alternative Capital LLC, said at the Reuters Global Investment Outlook Summit on Monday.

Nov 12, 2014

Goldman Sachs inducts 78 bankers into elite partnership

NEW YORK, Nov 12 (Reuters) – Goldman Sachs Group Inc
elevated 78 employees on Wednesday by making them partners,
according to an internal memo viewed by Reuters, capping an
anxious few weeks for employees hoping to enter the elite group
of Wall Street bankers.

The partnership is a lingering vestige of Goldman’s time as
a private firm, when partners pooled their own money to support
trading and investment banking, and split resulting profits or
losses.

Nov 9, 2014

Insight – The master who teaches the Merrill herd to graze on wheatgrass and chia

NEW YORK (Reuters) – At a retreat for Merrill Lynch financial advisers in a luxury Orlando hotel last month, a group of several dozen men and women in business attire swung their arms back and forth over their heads to Kid Rock’s “All Summer Long” to get their circulation going.

The mild aerobics were part of a three-day event orchestrated by Chris Johnson, a wellness guru who has gained influence under John Thiel’s leadership of Bank of America’s Merrill Lynch wealth management business.

Nov 9, 2014

The master who teaches the Merrill herd to graze on wheatgrass and chia

NEW YORK (Reuters) – At a retreat for Merrill Lynch financial advisers in a luxury Orlando hotel last month, a group of several dozen men and women in business attire swung their arms back and forth over their heads to Kid Rock’s “All Summer Long” to get their circulation going.

The mild aerobics were part of a three-day event orchestrated by Chris Johnson, a wellness guru who has gained influence under John Thiel’s leadership of Bank of America’s Merrill Lynch wealth management business.

Oct 31, 2014

Exclusive: Morgan Stanley commodities staff spooked by CEO comment

NEW YORK (Reuters) – During Morgan Stanley’s (MS.N: Quote, Profile, Research, Stock Buzz) public earnings call earlier this month, Chief Executive James Gorman made a remark that hit his commodities staff like a bombshell: the bank plans to further “optimise” its business of owning and trading stuff like oil, natural gas, electricity and metals.

So this past Monday, when co-head of the commodities business Simon Greenshields held a meeting for senior staff, he was met with a barrage of questions from colleagues who hadn’t been told about the plans either before or after the call, people familiar with the situation said. They wanted to know what Gorman meant by “optimise.”

Oct 31, 2014

Morgan Stanley commodities staff spooked by CEO comment

NEW YORK, Oct 31 (Reuters) – During Morgan Stanley’s
public earnings call earlier this month, Chief Executive James
Gorman made a remark that hit his commodities staff like a
bombshell: the bank plans to further “optimize” its business of
owning and trading stuff like oil, natural gas, electricity and
metals.

So this past Monday, when co-head of the commodities
business Simon Greenshields held a meeting for senior staff, he
was met with a barrage of questions from colleagues who hadn’t
been told about the plans either before or after the call,
people familiar with the situation said. They wanted to know
what Gorman meant by “optimize.”

Oct 17, 2014

Analysis – Morgan Stanley, armed with cash from fixed income dump, goes shopping

NEW YORK (Reuters) – Morgan Stanley (MS.N: Quote, Profile, Research), which has spent three years throwing out bad apples from its fixed income trading portfolio, now wants to put the freed up money into businesses that bear healthier fruit.

It is reinvesting capital previously held against unprofitable trades into areas like municipal bonds, credit and securitisation, where it sees opportunities for boosting profit, senior executives at the bank said on Friday.

Oct 17, 2014

Morgan Stanley, armed with cash from fixed income dump, goes shopping

NEW YORK (Reuters) – Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz), which has spent three years throwing out bad apples from its fixed income trading portfolio, now wants to put the freed up money into businesses that bear healthier fruit.

It is reinvesting capital previously held against unprofitable trades into areas like municipal bonds, credit and securitization, where it sees opportunities for boosting profit, senior executives at the bank said on Friday.