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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.

Feb 25, 2013

EXCLUSIVE: 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
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 21, 2013

AIG operating results beat expectations

By Lauren Tara LaCapra

(Reuters) – Insurer American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) reported fourth-quarter results that beat Wall Street expectations, although Chief Executive Robert Benmosche said some employee bonuses will be smaller this year because the company did not meet all of its performance targets.

Overall, the company reported a $4 billion loss on Thursday, due mainly to the sale of aircraft leasing business ILFC, as well as losses incurred from Superstorm Sandy.

Feb 12, 2013
via Unstructured Finance

Is Blankfein’s beard really just a beard?

Photo

Goldman Sachs Chief Executive Lloyd Blankfein has been sporting a beard lately, which has some people asking: is he on his way out?

The 58-year-old former commodities salesman shaved his beard, lost 50 pounds and quit smoking as he prepared to take over the reins of Goldman Sachs in 2006. He also “started dressing more like a banker and less like a renegade,” according to William Cohan, a former investment banker who wrote a book about Goldman Sachs.

Feb 7, 2013

Lazard results signal rebound in advisory business

Feb 7 (Reuters) – Lazard Ltd posted
stronger-than-expected fourth quarter results on Thursday as it
made more money from advising companies on deals, and it said
its mergers and acquisitions business may be at only the
beginning of a long-awaited recovery.

The three necessary conditions for a mergers rebound are in
place: valuations are reasonable, financing is available, and
executives are confident now, said Lazard Chief Executive Ken
Jacobs, noting that for a long time, confidence was the missing
component.