Lauren's Feed
Sep 10, 2014

NY pension fund enters $2 billion investment venture with Goldman Sachs

NEW YORK, Sept 10 (Reuters) – A New York state pension fund
has given Goldman Sachs Group Inc $2 billion to invest
with outside managers, Goldman and the fund said in a statement
on Wednesday, a first for a fund that has traditionally picked
managers itself.

Officials in charge of overseeing the $180.7 billion New
York State Common Retirement Fund wanted to invest more in
markets outside the U.S. and decided it was best to outsource
the task to a company that had the skills and resources to put
money to work quickly, staff in the New York comptroller’s
office said.

Aug 25, 2014

Banks to meet with Treasury Department on cyber threats -sources

NEW YORK, Aug 25 (Reuters) – A group of Wall Street banks
plan to meet the U.S. Treasury Department and other government
officials next month to talk about how to cooperate to fend off
cyber attacks, people familiar with the matter told Reuters.

The agenda of the meeting has not been drawn up, nor have
all the participants been identified, they added.

Aug 20, 2014

Jim Schiro, former Zurich CEO and Goldman director, dies

NEW YORK, Aug 20 (Reuters) – James Schiro, a former chief
executive in the accounting and insurance industries and until
recently the lead director of Goldman Sachs Group Inc,
died of cancer last week, the bank said.

Schiro, 68, retired from Goldman’s board in July to undergo
treatment for multiple myeloma, which was the cause of his death
on Aug. 13.

Aug 3, 2014

Insight – Morgan Stanley lends to Lotto winner to boost tailored loans

NEW YORK (Reuters) – Early this year, a New York State Lottery winner in Brooklyn approached Morgan Stanley with a problem: he needed to borrow hundreds of thousands of dollars before he collected his prize money.

The man, a Russian immigrant, wanted money to help move his family to a secure location before he redeemed his ticket and possibly became famous, according to people familiar with the matter who spoke on the condition of anonymity. He also wanted advice about what to do with his prize money, which was in the hundreds of thousands of dollars.

Aug 3, 2014

Morgan Stanley lends to Lotto winner to boost tailored loans

NEW YORK (Reuters) – Early this year, a New York State Lottery winner in Brooklyn approached Morgan Stanley with a problem: he needed to borrow hundreds of thousands of dollars before he collected his prize money.

The man, a Russian immigrant, wanted money to help move his family to a secure location before he redeemed his ticket and possibly became famous, according to people familiar with the matter who spoke on the condition of anonymity. He also wanted advice about what to do with his prize money, which was in the hundreds of thousands of dollars.

Aug 3, 2014

Exclusive: Goldman group set to buy message system as alternative to Bloomberg

NEW YORK (Reuters) – Wall Street firms led by Goldman Sachs Group Inc (GS.N: Quote, Profile, Research) are close to buying a stake in chat and instant messaging startup Perzo Inc in pursuit of an alternative to a similar application from Bloomberg LP, sources familiar with Goldman’s plans said.

Banks are trying to cut costs as sluggish trading volumes and higher regulation weigh on revenues. Bloomberg has dominated messaging on Wall Street for years, but its application is part of a data, trading and news terminal that costs about $20,000 a year. The Perzo applications are free.

Aug 3, 2014

Exclusive: Goldman group set to buy message system as alternative to Bloomberg – sources

NEW YORK (Reuters) – Wall Street firms led by Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) are close to buying a stake in chat and instant messaging startup Perzo Inc in pursuit of an alternative to a similar application from Bloomberg LP, sources familiar with Goldman’s plans said.

Banks are trying to cut costs as sluggish trading volumes and higher regulation weigh on revenues. Bloomberg has dominated messaging on Wall Street for years, but its application is part of a data, trading and news terminal that costs about $20,000 a year. The Perzo applications are free.

Aug 3, 2014

Goldman group set to buy message system as alternative to Bloomberg-sources

NEW YORK, Aug 3 (Reuters) – Wall Street firms led by Goldman
Sachs Group Inc are close to buying a stake in chat and
instant messaging startup Perzo Inc in pursuit of an alternative
to a similar application from Bloomberg LP, sources familiar
with Goldman’s plans said.

Banks are trying to cut costs as sluggish trading volumes
and higher regulation weigh on revenues. Bloomberg has dominated
messaging on Wall Street for years, but its application is part
of a data, trading and news terminal that costs about $20,000 a
year. The Perzo applications are free.

Jul 29, 2014

Goldman moves executive to new role building ETFs

NEW YORK (Reuters) – Goldman Sachs Group Inc has moved an executive from its trading division to its investment-management division to launch a business that will sponsor exchange-traded funds and sell them to retail clients through third parties, according to a memo and people familiar with the matter.

Michael Crinieri, who previously headed Goldman’s global ETF business in equities trading, is now global head of ETF strategy in Goldman Sachs Asset Management’s third-party distribution business, according to the memo, whose contents were confirmed by a spokeswoman.

Jul 28, 2014

Exclusive: Goldman moves executive to new role building ETFs

NEW YORK (Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) has moved an executive from its trading division to its investment-management division to launch a business that will sponsor exchange-traded funds and sell them to retail clients through third parties, according to a memo and people familiar with the matter.

Michael Crinieri, who previously headed Goldman’s global ETF business in equities trading, is now global head of ETF strategy in Goldman Sachs Asset Management’s third-party distribution business, according to the memo, whose contents were confirmed by a spokeswoman.