Lauren's Feed
Jul 26, 2014

Goldman mortgage deal with federal agency could reach $1.25 bln – source

NEW YORK, July 26 (Reuters) – A deal to resolve a U.S.
regulator’s claims against Goldman Sachs Group Inc over
mortgage-backed securities sold to Fannie Mae and
Freddie Mac leading up to the financial crisis could
cost the bank between $800 million and $1.25 billion, according
to a person familiar with the matter.

The person said Goldman Sachs is discussing a settlement
with the Federal Housing Finance Agency (FHFA), which filed 18
lawsuits against Goldman and other banks in 2011 over about $200
billion in mortgage-backed securities that later went sour.

Jul 18, 2014

Morgan Stanley rebuilds in commodities trading

NEW YORK (Reuters) – After more than a year of scaling back in commodities, Morgan Stanley (MS.N: Quote, Profile, Research) is ready to expand.

The Wall Street bank plans to hire about a dozen traders, sales staff and other professionals in the United States. It’s building up commodities trading and financing businesses that can profit despite tougher regulations, people familiar with the matter told Reuters.

Jul 18, 2014

Exclusive: Morgan Stanley rebuilds in commodities trading

NEW YORK (Reuters) – After more than a year of scaling back in commodities, Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) is ready to expand.

The Wall Street bank plans to hire about a dozen traders, sales staff and other professionals in the United States. It’s building up commodities trading and financing businesses that can profit despite tougher regulations, people familiar with the matter told Reuters.

Jul 17, 2014

Morgan Stanley profit more than doubles, beating estimates

July 17 (Reuters) – Wall Street bank Morgan Stanley’s
quarterly earnings more than doubled, beating market estimates,
as stronger performances by its investment banking and wealth
management businesses more than made up for a fall in revenue
from bond trading.

Net income attributable to common shareholders rose to $1.86
billion, or 94 cents per share, in the second quarter from $803
million, or 41 cents per share, a year earlier.

Jul 15, 2014

Goldman’s investment management business peeks out from trading’s shadow

NEW YORK (Reuters) – Late last year, Goldman Sachs reached an important milestone: its investment management business surpassed $1 trillion in client money under supervision.

But the achievement went largely unnoticed as shareholders focused on troubles in Goldman’s fixed-income trading business instead. Even inside the investment management division there was little fanfare.

Jul 15, 2014

Analysis-Goldman’s investment management business peeks out from trading’s shadow

NEW YORK (Reuters) – Late last year, Goldman Sachs reached an important milestone: its investment management business surpassed $1 trillion (0.58 trillion pound) in client money under supervision.

But the achievement went largely unnoticed as shareholders focussed on troubles in Goldman’s fixed-income trading business instead. Even inside the investment management division there was little fanfare.

Jul 15, 2014

Higher investment gains boost Goldman profit

By Anil D’Silva and Lauren Tara LaCapra

(Reuters) – Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) reported a 5 percent rise in quarterly profit, spurred by higher revenue from investment banking and a smaller decline in fixed-income trading than many on Wall Street had predicted.

The bank’s stock rose about 2 percent to $169.86 before the bell on Tuesday.

Jul 7, 2014

Bank analyst Hintz to join NYU’s business school, write book

NEW YORK (Reuters) – Charles Bradley Hintz, who has analyzed financial stocks for more than a decade at Bernstein Research, said on Monday that he will be leaving Wall Street to teach business at New York University and write a book.

Hintz, who goes by Brad, will be joining NYU’s Stern School of Business as an adjunct professor this fall. He will also be writing what he called a “long-delayed” book titled “Changing Landscapes of the Capital Markets,” which he plans to publish in 2015.

Jul 7, 2014

U.S. bank analyst Hintz to join NYU’s business school, write book

NEW YORK, July 7 (Reuters) – Charles Bradley Hintz, who has
analyzed financial stocks for more than a decade at Bernstein
Research, said on Monday that he will be leaving Wall Street to
teach business at New York University and write a book.

Hintz, who goes by Brad, will be joining NYU’s Stern School
of Business as an adjunct professor this fall. He will also be
writing what he called a “long-delayed” book titled “Changing
Landscapes of the Capital Markets,” which he plans to publish in
2015.

Jul 6, 2014

When CEO has cancer, board must plan for more than succession

NEW YORK, July 6 (Reuters) – When Goldman Sachs’ then-senior
partner, Gus Levy, suffered a stroke in the middle of a client
meeting in 1976 and died shortly after, the bank’s management
didn’t know who would lead the firm. No one, it seemed, had
planned for succession.

What happened next is not entirely clear. As Roy Smith, a
former Goldman partner, tells the story, Levy had left a
note in the top drawer of his desk in the office. It said if
anything were to happen to him, the management committee should
name John Whitehead and John Weinberg as co-senior partners, and
so Goldman did that, Smith said.