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☆ Goldman Sachs reports earnings before market open — here's what the Street expects
▼ + stars: | 2024-04-15 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

David Solomon, Chairman & CEO Goldman Sachs, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Goldman Sachs is scheduled to report first-quarter earnings before the opening bell Monday. Dormant capital markets and missteps tied to Solomon's ill-fated push into retail banking should give way to stronger results this year. Unlike more diversified rivals, Goldman gets most of its revenue from Wall Street activities. After pivoting away from retail banking, Goldman's new emphasis for growth has centered on its asset and wealth management division.

Persons: David Solomon, Goldman Sachs, StreetAccount Goldman Sachs, Goldman, outsized, Solomon, Philip Berlinski, Beth Hammack, Wells Fargo Organizations: LSEG Revenue, Trading, Rivals JPMorgan Chase, Citigroup, Wall, JPMorgan Locations: Davos, Switzerland

☆ Goldman Sachs taps Carey Halio as treasurer amid criticisms of its handling of women's careers — read the full memo here
▼ + stars: | 2024-04-11 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

Beth Hammack, a past treasurer and CEO of Goldman Sachs Bank USA, recently left after reportedly being passed over for the CFO job. April 11, 2024Carey Halio Named Global Treasurer of Goldman SachsI am pleased to announce that Carey Halio has been named global treasurer of Goldman Sachs and will become a member of the Management Committee. Previously, Carey was chief executive officer of Goldman Sachs Bank USA and deputy treasurer of Goldman Sachs. He first joined Goldman Sachs in 2006 in Investment Banking, where he advised US financial institutions on capital markets and regulatory capital issues. Please join us in congratulating Jehan on his new responsibilities, and in wishing him and the Investor Relations team continued success.

Persons: Goldman Sachs, Philip Berlinski, Berlinski, Goldman, Denis Coleman, Carey Halio, Halio, David Solomon, she'll, Jehan Ilahi, who's, Coleman, Russell Horwitz, Beth Hammack, Stephanie Cohen, Solomon, Horwitz, Carey, David, Jehan, Morgan, Denis Coleman Russell Horwitz Organizations: Financial Times, Goldman Sachs Bank USA, Business, BI, Street Journal, Goldman, Management, Investor Relations, Goldman Sachs Bank, Financial, Investment Banking, Equity Investor Relations, Banking Locations: New York

☆ Goldman Sachs issued these 12 talking points for managers amid criticisms that it's bleeding women leaders. See the full memo here.
▼ + stars: | 2024-03-20 | by ( Reed Alexander | ) www.businessinsider.com time to read: +9 min

Horwitz's March 13 memo was sent to all partners, managing directors, and vice presidents in response to a recent Wall Street Journal story. Women exits at GoldmanThe story comes amid a recent spate of departures of high-profile female executives at Goldman. Other women partners who have left include Katie Koch, a former top executive in asset management; Heather Miner, ex-global head of investor relations; and Jennifer Davis, a former head of retail investment banking. We are very fortunate to have extraordinary female partners that continue to increase in numbers. Our longer term success depends significantly on developing female partners in senior roles."

Persons: Goldman Sachs, Russell Horwitz, hasn't, Horwitz, David Solomon's, Horwitz —, Goldman, Marc Nachmann, Stephanie Cohen, BI's Bianca Chan, Beth Hammack, Cohen, Hammack, Alison, —, Solomon, Katie Koch, Heather Miner, Jennifer Davis, Horowitz, Russell W, David, we've Organizations: Business, Horwitz's, Goldman, Firm, Women, Media Relations

☆ Why Stephanie Cohen is leaving Goldman Sachs. The Wall Street veteran opens up about her new move to 'help build a better internet.'
▼ + stars: | 2024-03-18 | by ( Bianca Chan | ) www.businessinsider.com time to read: +11 min

Cohen, 46, will join Cloudflare, a San Francisco-based technology company aimed at helping businesses improve their internet security and performance. It will be a familiar role, as she served as Goldman's strategy chief from 2018 to 2020. Having spent 20 years inking deals within Goldman Sachs' investment banking unit, Cohen is no stranger to the boardroom. "But the reality is, Goldman Sachs is not a technology firm," Cohen said. When she broke the news to Argenti, he told her, 'This is exactly what you should do… this is exactly the right company," Cohen recalled.

Persons: Stephanie Cohen, Cohen, " Cohen, David Solomon, Goldman, Beth Hammack, Cloudflare, Solomon, John Waldron, Matthew Prince, Michelle Zatlyn, Goldman Sachs, it'll, Lloyd Blankfein, Brendan McDermid, Reuters Cohen, they're, I, Stephanie, Prince, she'll, Marco Argenti Organizations: Business, Cloudflare, IBM, University of Illinois, Goldman, Reuters, Financial Times Locations: San Francisco, Utah, Urbana, Champaign

☆ Inside the latest drama at Goldman Sachs that reportedly has some partners up in arms
▼ + stars: | 2024-02-22 | by ( Reed Alexander | ) www.businessinsider.com time to read: +4 min

AdvertisementThe drama playing out within the upper ranks of Goldman Sachs is continuing to unfold, and CEO David Solomon's troubles with senior partners don't appear to be over yet. (Garcia's co-head of European investment banking, Anthony Gutman, is also said to have been named to the committee.) Bloomberg reported this week that Beth Hammack — a longtime Goldman partner, co-head of the global financial group, member of the management committee, and former CEO of Goldman Sachs Bank USA — is set to step down. And when Esposito broke the news last month of his imminent departure in a note to partners and clients, he wrote, wistfully, that he planned to "bleed Goldman Sachs forever." Are you a Goldman Sachs or Wall Street insider?

Persons: Goldman Sachs, David Solomon's, who's, Mark Sorrell, Gonzalo Garcia, Joshua Franklin, Arash Massoudi, Kim Posnett, Sorrell —, Sir Martin Sorrell, Stephan Feldgoise, Anthony Gutman, Sorrell, Gutman, Garcia, Goldman, Alison Mass, George Lee, Jim Esposito —, —, Solomon, Adebayo, Beth Hammack —, Esposito, wistfully, Reed Alexander Organizations: Financial, IB, Reading, Goldman, Bloomberg, Goldman Sachs Bank Locations: Miami

☆ Five percent interest rates could be the new normal going forward, says Goldman Sach's Beth Hammack
▼ + stars: | 2023-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFive percent interest rates could be the new normal going forward, says Goldman Sach's Beth HammackBeth Hammack, Goldman Sachs co-head of the global financing group, joins 'Squawk Box' to discuss the current interest rate picture, if the higher for longer mantra will come true, and much more.

Persons: Goldman Sach's Beth Hammack Beth Hammack, Goldman Sachs

The advisers said the standoff between Republicans and Democrats in Congress and the White House has already raised taxpayer borrowing costs through weak Treasury auctions and high yields for short-dated Treasury Bills, while ratings agencies are already publishing analyses of potential U.S. ratings downgrades. They said the Treasury market's role as the backbone of the entire financial system would be called into question, leaving the debt market without a benchmark pricing firm and causing investors to pull back from fixed-income and equity markets. Their letter was distributed after President Joe Biden met with Republican House of Representatives Speaker Kevin McCarthy at the White House with no signs of softening their positions, though they agreed to continue talks. The advisers said that following the banking turmoil that started in March, the debate over raising the debt limit is "reckless and irresponsible." A protracted negotiation would have short-term costs, but a default is an "unthinkable" event, the executives said.

☆ The dollar is at 'real risk' as the political deadlock over the US debt ceiling undermines investor confidence, Goldman Sachs' Beth Hammack says
▼ + stars: | 2023-05-10 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +3 min

The political deadlock over the US debt ceiling poses a 'real risk' to the dollar, according to Goldman Sachs' Beth Hammack. "There is real risk to the US dollar as we leave this in a more protracted state of negotiations," she told Bloomberg TV. The stalemate over the borrowing limit has heightened concerns that the US could end up defaulting on its debt. "And so I think that's really confusing - I think there is real risk to the US dollar as we leave this in a more protracted state of negotiations." Lawmakers have been sparring over the debt limit, with House Speaker Kevin McCarthy recently proposing a bill that would lift the borrowing limit by $1.5 trillion while cutting spending by $4.5 trillion.

☆ With Debt Coming Due, Investment-Grade Companies Are Paying Up, Too
▼ + stars: | 2022-12-01 | by ( Nina Trentmann | ) www.wsj.com time to read: +7 min

What’s more, volatile markets have resulted in fewer opportunities for companies to sell their debt. Investment-grade U.S. companies have between $550 billion and $750 billion coming due per year from 2023 through 2027, according to Goldman Sachs Group Inc., with about $59 billion left to pay off or refinance in 2022. Of the $615.54 billion, $504.31 billion were new issuances, compared to $111.23 billion in refinancings, Dealogic said. But investor demand for bonds has been stronger in recent days, leading Amazon.com Inc. and others with near-term debt coming due to the market. Among the businesses that recently took out bond debt at a higher cost is retail giant Walmart Inc.

☆ Fed's standing repo facility a key tool some say could be improved
▼ + stars: | 2022-11-16 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

The Fed’s Standing Repo Facility allows eligible firms, who are mainly large banks, to quickly convert their Treasuries into short-term cash loans. But many experts and market participants say its existence should help if trouble arrives. Focus has gravitated to the Standing Repo Facility given the market fragility as major central banks around the world have pursued aggressive rate increases to lower the highest levels of inflation in four decades. But observers believe the Treasury market might be okay in the face of the trouble in part because the Standing Repo Facility will help ensure liquidity is there for those who need it. Meanwhile, Hammack said one other way the Standing Repo Facility could be made strong is for bank regulators to take it on board when assessing financial firms’ overall liquidity positions.

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