NEW YORK (Reuters) – Senior executives within Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) have talked about splitting the roles of chief executive officer and chairman, two sources said, although pressure for any imminent move appears to have eased after a deal with a labor union pension fund.

Proposals to separate the CEO and chairman roles have long been sought by outside groups, but two people familiar with management thinking provided the first indication that internal discussions about such a move have taken place.

By Lauren Tara LaCapra

(Reuters) – Goldman Sachs Group Inc’s (GS.N: Quote, Profile, Research, Stock Buzz) first-quarter earnings are expected to benefit from the increased use of derivatives by European clients seeking ways to hedge risk, according to an internal report seen by Reuters.

Revenue at Goldman’s investment bank in Europe increased by 8 percent from the year-ago period to $476 million, the report said.

March 27 (Reuters) – Goldman Sachs Group Inc’s (GS.N: Quote, Profile, Research)
first-quarter earnings are expected to benefit from the
increased use of derivatives by European clients seeking ways
to hedge risk, according to an internal report viewed by
Reuters.

Revenue at Goldman’s investment bank in Europe increased by
8 percent from the year-ago period to $476 million, the report
said.

March 23 (Reuters) – Morgan Stanley is interested in
buying all of Citigroup Inc’s stake in their wealth
management joint venture this year in what could be a roughly
$10 billion deal, said people familiar with Morgan Stanley
management’s thinking.

Under the terms of the Morgan Stanley Smith Barney joint
venture, Morgan Stanley will get an option starting May 31 to
buy 14 percent more of the business from Citigroup, adding to
the 51 percent stake it already has. It has options to buy the
remaining portion in two more chunks through May 2014.

By Lauren Tara LaCapra

(Reuters) – Morgan Stanley is interested in buying all of Citigroup Inc’s stake in their wealth management joint venture this year in what could be a roughly $10 billion deal, said people familiar with Morgan Stanley management’s thinking.

Under the terms of the Morgan Stanley Smith Barney joint venture, Morgan Stanley will get an option starting May 31 to buy 14 percent more of the wealth management business from Citigroup, adding to the 51 percent stake it already has. It has options to buy the remaining portion in two more chunks through May 2014.

March 23 (Reuters) – Morgan Stanley (MS.N: Quote, Profile, Research) is interested in
buying all of Citigroup Inc’s (C.N: Quote, Profile, Research) stake in their wealth
management joint venture this year in what could be a roughly
$10 billion deal, said people familiar with Morgan Stanley
management’s thinking.
Under the terms of the Morgan Stanley Smith Barney joint
venture, Morgan Stanley will get an option starting May 31 to
buy 14 percent more of the wealth management business from
Citigroup, adding to the 51 percent stake it already has. It has
options to buy the remaining portion in two more chunks through
May 2014.
But both sides are beginning to suggest they would be
interested in doing a deal for Citigroup’s entire 49 percent
stake now instead of waiting for two more years, and have
started behind-the-scenes posturing to negotiate the better
deal.

Morgan Stanley and Citigroup spokespersons declined to
comment on the potential for an accelerated deal.

March 20 (Reuters) – Jefferies Group Inc reported
stronger fixed-income trading and underwriting revenue, a signal
that Wall Street’s most lucrative businesses are staging a
comeback.

Profit at the midsize investment bank fell from last year
because of higher costs, weak equity trading volumes and a loss
in the company’s managed funds business. But strength across the
company’s fixed-income and investment banking businesses
suggested that Jefferies had progressed from last fall, when its
very viability was being questioned.

March 19 (Reuters) – Goldman Sachs Group Inc has
begun a new round of staff cuts in its trading and investment
banking divisions, three sources familiar with the matter said,
a sign of a continued penny-pinching on Wall Street.

The job cuts follow 2,400 positions Goldman eliminated last
year, and further reductions are possible as the company
continues to reduce costs to raise profitability, the sources
said.

By Lauren Tara LaCapra

(Reuters) – Goldman Sachs Group Inc is reviewing conflict-of-interest policies and procedures for investment bankers in light of a recent controversy over a Goldman-advised deal.

The review comes after Goldman was criticized for advising El Paso Corp on its planned sale to Kinder Morgan Inc even though Goldman had a multibillion-dollar stake in the acquirer and its top energy banker held a $340,000 personal stake in Kinder Morgan.

By Lauren Tara LaCapra

(Reuters) – Every time Goldman Sachs Group President Gary Cohn sticks his chin out, he seems to take another hit.

The 51-year-old banker, widely seen as the natural successor to Goldman Chief Executive Officer Lloyd Blankfein, once again finds himself caught up in another public relations fiasco involving the storied Wall Street investment bank.