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Mar 13, 2013

Goldman Sachs ventures west for annual meeting in Salt Lake City

NEW YORK, March 13 (Reuters) – Goldman Sachs Group Inc
said it will hold its annual meeting in Salt Lake City
this year, the first time the Wall Street bank is inviting
shareholders to cast their votes at a gathering outside the New
York metropolitan area.

“We’re delighted to hold our annual shareholder meeting in
what has become our second-largest office in the U.S.,” Chief
Executive Lloyd Blankfein said in a statement provided to
Reuters.

Mar 4, 2013

Goldman finds new way to do buyouts in face of Volcker

NEW YORK, March 4 (Reuters) – Goldman Sachs Group Inc
is trying to find ways to keep investing in the profitable,
albeit risky, business of buying and selling companies without
crossing a rule that will restrict private equity investing,
three sources familiar with the new business said over the past
week.

The Volcker rule – named for former Federal Reserve Chairman
Paul Volcker and part of the Dodd-Frank financial reform law -
is expected to limit bank investments in private equity funds,
but not necessarily private equity-style investments outside of
a formal fund structure. The rule’s main goal is to prevent
federally insured banks from gambling in the markets or taking
on too much risk with hedge funds and private-equity funds.

Mar 4, 2013

Exclusive: Goldman eyes Volcker workaround for buyouts

By Jessica Toonkel and Lauren Tara LaCapra

(Reuters) – Goldman Sachs Group Inc is trying to work around a financial reform regulation to keep investing in the profitable, albeit risky, business of buying and selling companies, three sources familiar with the new business said over the past week.

The Volcker rule – named for former Federal Reserve Chairman Paul Volcker and part of the Dodd-Frank financial reform law – is expected to limit bank investments in private equity funds, but not necessarily private equity-style investments outside of a formal fund structure.

Mar 4, 2013

Goldman eyes Volcker workaround for buyouts

March 4 (Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research) is trying
to work around a financial reform regulation to keep investing
in the profitable, albeit risky, business of buying and selling
companies, three sources familiar with the new business said
over the past week.

The Volcker rule – named for former Federal Reserve Chairman
Paul Volcker and part of the Dodd-Frank financial reform law -
is expected to limit bank investments in private equity funds,
but not necessarily private equity-style investments outside of
a formal fund structure.

Mar 1, 2013

Goldman trims risk-taking to lowest level in 7 years

March 1 (Reuters) – Goldman Sachs Group Inc reduced
its risk-taking for a third straight year, with potential losses
from trading positions dropping to the lowest level in seven
years, reflecting a more cautious stance towards markets.

The Wall Street bank’s average daily value at risk last year
was $86 million, down 24 percent from the preceding year,
according to a filing with the U.S. Securities and Exchange
Commission on Friday.

Mar 1, 2013

Goldman Sachs trims risk-taking to lowest level in 7 years

By Lauren Tara LaCapra

(Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) reduced its risk-taking for a third straight year, with potential losses from trading positions dropping to the lowest level in seven years.

The Wall Street bank’s average daily value at risk last year was $86 million, down 24 percent from the preceding year, according to a filing with the U.S. Securities and Exchange Commission on Friday.

Feb 27, 2013

Goldman hires Citigroup lobbyist Amy Overton

Feb 27 (Reuters) – Citigroup Inc lobbyist Amy Overton
is leaving the bank for Wall Street rival Goldman Sachs Group
Inc.

Overton, 43, will handle a broad range of issues for
Goldman, a spokesman for Goldman said.

Feb 26, 2013

Exclusive: Goldman to begin fresh round of job cuts

By Lauren Tara LaCapra and Katya Wachtel

(Reuters) – Goldman Sachs Group Inc will begin its annual job cutting process as early as this week, sources familiar with the matter said on Monday, with its equities-trading business bracing for bigger cuts than fixed-income trading.

The bank usually culls out the weakest 5 percent of its employees around now. But the cuts will likely be deeper in some businesses, particularly equities trading, where volumes and earnings are weak. The number of shares traded on major U.S. exchanges so far this year is down 7.2 percent.

Feb 26, 2013

Goldman to begin fresh round of job cuts -sources

Feb 25 (Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research) plans to
begin a fresh round of job cuts as early as this week, sources
familiar with the matter said on Monday, with its
equities-trading business bracing for bigger cuts than
fixed-income trading.

The cuts come at the time of year in which the Wall Street
bank typically gets rid of its weakest 5 percent of employees
across the entire firm. But as the trading business continues to
suffer from weak volumes and earnings, the losses are expected
to be deeper in some businesses.

Feb 25, 2013

Exclusive: Goldman to begin fresh round of job cuts – sources

By Katya Wachtel and Lauren Tara LaCapra

(Reuters) – Goldman Sachs Group Inc plans to begin a fresh round of job cuts as early as this week, sources familiar with the matter said on Monday, with its equities-trading business bracing for bigger cuts than fixed-income trading.

The cuts come at the time of year in which the Wall Street bank typically gets rid of its weakest 5 percent of employees across the entire firm. But as the trading business continues to suffer from weak volumes and earnings, the losses are expected to be deeper in some businesses.