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JPMorgan Hires Ex-Goldman Deal-Maker (and Art History Student)

freshcontentengine.com — Sat, 04 Dec 2010 09:37:35 +0000

JPMorgan Chase said Thursday that it has hired Robert Cummings Jr., a former senior deal-maker at Goldman Sachs, as vice chairman of its investment banking group. Mr. Cummings worked at Goldman for 27 years, specializing in mergers and acquisitions and strategic financing, before stepping down in 2001 to study art history at Columbia. He currently [...]

Apollo Names Spilker President

freshcontentengine.com — Tue, 30 Nov 2010 22:34:40 +0000

Apollo Global Management has named Marc Spilker, a former Goldman Sachs Group executive, to the new position of president, as the private equity firm bolsters its management ranks to ready itself for life as a publicly traded company. Mr. Spilker, who joins Apollo on Wednesday, will run the day-to-day operations of Apollo and sit on [...]

2 Sides Clash in Trial Over Goldman Trading Code

freshcontentengine.com — Tue, 30 Nov 2010 10:34:40 +0000

Chip East/ReutersSergey Aleynikov, a former programmer for Goldman Sachs, has begun trial on charges that he stole trading code from the firm. Is Sergey Aleynikov an evil computer scientist who brazenly stole valuable, closely guarded trading code from Goldman Sachs, his former employer? Or is he a humble Russian immigrant who, upon leaving his programming [...]

A Year of New Beginnings for Corzine

freshcontentengine.com — Mon, 29 Nov 2010 12:28:24 +0000

Bill Cunningham/The New York Times Jon S. Corzine and Sharon Elghanayan. Jon S. Corzine, the only man to have led both Goldman Sachs and the state of New Jersey, was married to Sharon Elghanayan, his long-time partner, last week before the Thanksgiving holidays. Mr. Corzine and Ms. Elghanayan, a psychotherapist and Newark native who more [...]

Wall St., Though Tarnished, Still a Draw on Campus

freshcontentengine.com — Fri, 19 Nov 2010 21:12:31 +0000

Jin Lee/Bloomberg News College newspapers have always been home to short-tempered columnists raging against the establishment, but Tony Manfred, a history major at Cornell, struck an especially bitter tone this week. His column, which was featured in the op-ed section of The Cornell Daily Sun, was headlined: “Throw Goldman Sachs Off Campus.” “Goldman Sachs is [...]

Goldman Had Just 2 Down Trading Days in 3rd Quarter

freshcontentengine.com — Tue, 09 Nov 2010 14:56:52 +0000

Goldman Sachs reaped more than $75 million in trading revenue on 31 separate days in the third quarter, an impressive showing, but down from previous quarters this year. The firm disclosed on Tuesday in a filing with the Securities and Exchange Commission that its daily trading revenue dipped into the red on just two days [...]

Gartmore Hires Goldman to Study a Sale

freshcontentengine.com — Mon, 08 Nov 2010 23:00:54 +0000

The Gartmore Group, the British asset management company, said on Monday that it had hired Goldman Sachs to advise it on a possible sale or merger, as Roger Guy became the latest top manager to leave the embattled firm. Shares in Gartmore plunged 15.8 percent, to 106 pence, after it announced that it had engaged [...]

Hopu Said to Be Winding Down Investments

freshcontentengine.com — Thu, 04 Nov 2010 07:43:15 +0000

Hopu Investment Management, a Chinese private equity firm started by two former Goldman Sachs bankers in 2008, has decided not to raise a second fund in a move that signals the investment vehicle is winding down, The Financial Times reported. Hopu, whose goal was to compete with the likes of the Carlyle Group and TPG [...]

Goldman Sells $1.3 Billion in 50-Year Notes

freshcontentengine.com — Wed, 27 Oct 2010 08:17:22 +0000

In 50 years, Lloyd Blankfein will be 106 years old — and Goldman Sachs’s new bond issue will mature. Goldman sold $1.3 billion of 50-year senior notes on Tuesday, priced to yield 6.125 percent, reports IFR, a service of Thomson Reuters. The offering was increased from $250 million. The notes are non-callable for five years [...]

Under Spotlight, Goldman to Cut Compensation

freshcontentengine.com — Thu, 21 Oct 2010 07:17:06 +0000

Goldman Sachs will divide $3.8 billion among 35,400 employees in the third quarter, a pay pool reduced significantly from the period a year earlier, The Financial Times reported. The cuts result from a slump in the bank’s profit as a result of a slowdown in trading, as well as the fact that Goldman is now [...]