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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStock market's 'bull thesis' holds up despite sell off, says Goldman Sachs' Tony PasquarielloTony Pasquariello, Goldman Sachs global head of hedge fund client coverage, joins ‘Closing Bell’ to discuss his bullish market outlook.
Persons: Goldman Sachs, Tony Pasquariello Tony Pasquariello, Bell
How Goldman Sachs ETF Accelerator works
  + stars: | 2024-03-28 | 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 EmailHow Goldman Sachs ETF Accelerator worksSteve Sachs, Goldman Sachs global COO, joins CNBC's Bob Pisani to discuss how Goldman Sachs is redefining "active" investing.
Persons: Goldman Sachs, Steve Sachs, Bob Pisani
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman's head of corporate engagement on what others can learn from Black Heritage MonthGoldman Sachs Global Head of Corporate Engagement Asahi Pompey says American history is black history.
Persons: Goldman Sachs, Asahi Pompey Organizations: Black Heritage, Goldman
Goldman Sachs doesn't expect an inflation spike in the US fueled by turmoil in the Red Sea. To be sure, Red Sea disruptions have caused freight costs to soar as much as 350%. AdvertisementShipping disruptions in the Red Sea have caused freight costs to spike, but the impact on inflation will remain muted, according to Goldman Sachs. Goldman Sachs Global Investment ResearchHowever, they maintained that goods inflation still won't see a meaningful uptick for two reasons. "Under reasonable pass-through assumptions, a 100% increase in the cost of sea freight therefore only raises core goods inflation by around 0.4pp and overall core inflation by around 0.1pp," the Goldman strategists said.
Persons: Goldman Sachs, , Jan Hatzius, Hatzius Organizations: Service, Shipping, Goldman Sachs Global Investment Research, Goldman Locations: Red, Iran, Israel, Gaza, Suez, Asia, Europe, China, Southeast Asia, 0.4pp, 0.1pp
Goldman Sachs Japan chief to retire at year end - internal memo
  + stars: | 2023-11-20 | by ( ) www.reuters.com   time to read: +1 min
People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsTOKYO, Nov 20 (Reuters) - Goldman Sachs' Japan president Masanori Mochida has decided to retire at the end of the year after more than 38 years at the investment bank, according to an internal memo seen by Reuters. The internal memo dated Sunday from Goldman (GS.N) CEO David Solomon said Mochida will become a senior director, without mentioning who would succeed his role as president. He became co-branch manager of Goldman Sachs Japan in 1999. "Masa has served as an invaluable advisor to our most important clients across Japan and beyond on countless transactions, helping them advance their strategic objectives with Goldman Sachs at their side," the memo said.
Persons: Goldman Sachs, Andrew Kelly, Masanori Mochida, David Solomon, Mochida, Masa, Makiko Yamazaki, Stephen Coates Organizations: REUTERS, Rights, Japan, Reuters, Goldman, ichi Kangyo Bank, Mizuho Bank, Goldman Sachs Japan, Nippon Telegraph, Telephone, Financial Times, U.S, Thomson Locations: Manhattan , New York, U.S, Japan's, Japan, Tokyo
Jared Cohen: If you reflect back on most of the last 20 years, the geopolitical center of gravity has been in the Middle East. But there’s a paradigmatic shift where the geopolitical center of gravity has moved from the Middle East to Washington and Beijing. That’s before you get into other factors like the war in Europe, now, the war in the Middle East and a variety of other things. I don’t think that’s the case. Leaders in the Middle East have a big vision of their role in the world.
Persons: Goldman Sachs, won’t, Goldman, Bell, Jared Cohen, Cohen, they’re, They’ve, it’s, They’re, Bill Ackman, , Ackman, Claudine Gay, , Lawrence Summers, Clinton, ” Summers, Chris Isidore, Shawn Fain Organizations: CNN Business, Bell, New York CNN, Goldman Sachs Global Institute, Applied Innovation, Global Affairs, Google, Harvard, Harvard University, Israel, Pershing Square Capital Management, “ Harvard, Civil, CNN, UAW, United Auto Workers, General Motors, Ford Locations: New York, China, Europe, East, Washington, Beijing, Taiwan, South China, Israel
People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. Systematic fund managers, particularly those which had short bets on highly traded stock names, got caught trying to get out of crowded trades and found themselves stuck in losing positions, Goldman Sachs (GS.N) said. A short stock position bets its price will decline. An index of these funds tracked by Goldman Sachs had their "third worst single day this year," the investment bank said in a note to clients. The hedge fund strategies Goldman Sachs tracked included "market neutral" hedge funds which try not to hold an overwhelmingly long or short view on the market, as well as "arbitrage" funds, which profit from the difference in company stock prices in related sectors.
Persons: Goldman Sachs, Andrew Kelly, Goldman, Jerome Powell, Nell Mackenzie, Mark Heinrich Our Organizations: REUTERS, Goldman Sachs, Global, U.S . Federal Reserve, Fed, Treasury, Thomson Locations: Manhattan , New York, U.S
People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. Weiss joins Goldman Sachs as managing director as head of so-called "wealth customized solutions" for the U.S, according to a internal memo seen by Reuters. Goldman Sachs clients for these products include large banks' wealth management divisions, independent broker-dealers and registered independent advisors. Weiss was head of separately managed accounts (SMAs), models and portfolio consulting at BlackRock (BLK.N), according to the Goldman memo. Goldman Sachs Asset Management wants to offer tailored portfolios across both public and private asset classes, said Padi Raphael, head of third party wealth management at the bank.
Persons: Goldman Sachs, Andrew Kelly, Gregory Weiss, Weiss, Goldman, Merrill Lynch, Padi Raphael, Saeed Azhar, Lananh Nguyen, Chizu Organizations: REUTERS, U.S, Reuters, BlackRock, UBS, Goldman, Management, Thomson Locations: Manhattan , New York, U.S, BlackRock
The 10-year Treasury yield topped 5% for the first time since 2007 this week. The gap between higher dividend yield stocks and the 10-year US Treasury yield has completely closed. Bond yields probably aren't falling soonTreasury yields are likely staying elevated, thanks to the Fed's committement to keeping a lid on inflation. Central bankers have raised rates 525 basis-points over the past year to lower high prices, which has helped pushed Treasury yields higher. Other market forecasters have warned of more trouble ahead in equities, especially as higher bond yields draw investors away from the stock market.
Persons: , Goldman Sachs, there's, they've Organizations: Treasury, Service, Bank of America, Goldman, Goldman Sachs Global Investment Research, Vanguard
Goldman Sachs forays into geopolitical advisory business
  + stars: | 2023-10-26 | by ( ) www.reuters.com   time to read: +1 min
The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 26 (Reuters) - Goldman Sachs (GS.N) on Thursday launched an institute to offer its clients insights on geopolitics and technology, according to an internal memo seen by Reuters. The Goldman Sachs Global Institute will be led by Jared Cohen and George Lee, partners at the U.S. banking heavyweight, the memo said. Apart from Goldman Sachs, independent investment firm Lazard (LAZ.N) has been advising its clients on geopolitical risks. The Goldman Sachs Global Institute will partner with leaders across businesses to engage with clients on a range of topics from the U.S.-China relationship, conflicts in Europe and the Middle East and shifting supply chains, the memo added.
Persons: Goldman Sachs, Andrew Kelly, Goldman, Jared Cohen, George Lee, Lazard, Jaiveer Singh, Shilpi Majumdar Organizations: New York Stock Exchange, REUTERS, Reuters, Goldman Sachs Global, Goldman Sachs Global Institute, U.S ., Thomson Locations: New York City , New York, U.S, Ukraine, China, Europe, Bengaluru
[1/2] People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 24 (Reuters) - Goldman Sachs Group Inc (GS.N) has appointed David Kamo as its global head of financial sponsor mergers and acquisitions within its investment bank, according to a memo seen by Reuters on Tuesday. As well as assuming his new global role with financial sponsors, Kamo will continue heading cross markets M&A for Goldman, the memo added. The cross markets group is the bank's unit which focuses on advising middle-market businesses. Kamo joined Goldman in 2016 and became a partner at the Wall Street giant in 2020.
Persons: Goldman Sachs, Andrew Kelly, David Kamo, Goldman, Kamo, David French, Nick Zieminski Organizations: REUTERS, Goldman Sachs Group Inc, Reuters, Lehman Brothers, Barclays, Thomson Locations: Manhattan , New York, U.S, New York
Goldman Sachs executive Chris Kojima to leave, memo says
  + stars: | 2023-10-03 | by ( Saeed Azhar | ) www.reuters.com   time to read: +2 min
People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Oct 3 (Reuters) - Chris Kojima, an executive in Goldman Sachs <GS.N> asset and wealth management unit, will leave the investment bank after almost 28 years, according to an internal memo seen by Reuters on Tuesday. His move is the latest in a series of high-profile departures from Goldman's asset and wealth management division, which manages $2.7 trillion in assets. "Chris founded and led businesses that are incredibly important to Goldman Sachs, and our business today is stronger because of his leadership," Nachmann said in a statement. He first joined Goldman Sachs as an investment banking associate in 1995, and was named managing director in 2002 and a partner in 2008.
Persons: Goldman Sachs, Andrew Kelly, Chris Kojima, Kojima, Julian Salisbury, Mike Koester, Jo Natauri, Matt Gibson, Marc Nachmann, Chris, Nachmann, Goldman, Saeed Azhar, Louise Heavens, Lananh Nguyen, Paul Simao Organizations: REUTERS, Reuters, Sixth, Thomson Locations: Manhattan , New York, U.S
Goldman Sachs exec Chris Kojima to leave
  + stars: | 2023-10-03 | by ( Saeed Azhar | ) www.reuters.com   time to read: +2 min
People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Oct 3 (Reuters) - Chris Kojima, a Goldman Sachs (GS.N) executive in the asset and wealth management unit, will leave the investment bank at year-end after almost 28 years, an internal memo seen by Reuters on Tuesday showed. Kojima is among the latest high-profile executives to leave Goldman's asset and wealth management division, which manages $2.7 trillion in assets. "Chris founded and led businesses that are incredibly important to Goldman Sachs, and our business today is stronger because of his leadership," Nachmann said in a statement. He first joined Goldman Sachs as an investment banking associate in 1995, and was named managing director in 2002 and a partner in 2008.
Persons: Goldman Sachs, Andrew Kelly, Chris Kojima, Kojima, Julian Salisbury, Mike Koester, Jo Natauri, Matt Gibson, Marc Nachmann, Chris, Nachmann, Kojima's, Saeed Azhar, Louise Heavens, Lananh Nguyen, Paul Simao, Richard Chang Organizations: REUTERS, Reuters, Atlantic, Sixth, Thomson Locations: Manhattan , New York, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA full government shutdown would trigger a data blackout, says Goldman Sachs' Alec PhillipsAlec Phillips, Goldman Sachs Global Investment Research chief U.S. political economist, joins 'The Exchange' to discuss economic risks associated with a government shutdown, the likelihood of a bipartisan deal to reopen the government after a shutdown, and more.
Persons: Goldman Sachs, Alec Phillips Alec Phillips, Goldman Organizations: Goldman Sachs Global Investment Research
Instead, gasoline prices are getting more expensive and are just pennies away from their highest level so far this year. Are rising oil prices another item to add to the list? How high do you think oil prices will go? When you adjust for inflation, oil isn’t that high right now. I think that we are going to see continued high prices for a lot of stuff, including gasoline, but I don’t think we’re gonna see an acceleration in prices.
Persons: David Kelly, Bell, Kelly, it’s, we’re, We’ve, — aren’t, Eva Rothenberg, Sen, Bernie Sanders, CNN’s Jake Tapper, , , Jared, Kay Jewelers, Parija Kavilanz, Virginia Drosos Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Asset Management, Strategic Petroleum Reserve, Federal, UAW, United Auto Workers, General Motors, Ford, Vermont Independent, Signet Jewelers, Signet, Diamonds, Goldman, Global Retailing Conference Locations: New York, Saudi Arabia, Russia, Libya, Ukraine, Gulf of Mexico, United States, Nile
This trend then created an “engagement gap” since couples get engaged, on average, about 3.25 years after they begin dating, according to Signet’s proprietary data. About 2.8 million couples, on average, get engaged every year in the United States, said Drosos. Last year, the number slipped to 2.5 million. In 2024, Signet expects engagements will reach 2.4 to 2.5 million. Courtesy of Zales/KAY JewelersDrosos said Signet is able to closely track the yearly engagement cycle because of its customer data platform.
Persons: Jared, Kay Jewelers, “ Covid, Covid, , Virginia Drosos, Kay, Neil Lane, KAY Jewelers Drosos, Signet, , ” Drosos, Drosos Organizations: New, New York CNN, Signet Jewelers, Signet, Diamonds, Goldman, Global Retailing Conference, Locations: New York, United States, Nile, Texas, Florida, California
Sam's Club private-label cashews are popular on TikTok. Sam's Club shoppers on TikTok enthusiastically discover and try new flavors like everything (as in bagel) and street taco cashews. The top seller is the Member's Mark Roasted Whole Cashews with Sea Salt, according to Sam's Club. Last year, Sam's Club announced a revamp of its Member's Mark brand, according to Marketwatch. Sam's Club said its cashews are highly rated and often re-purchased.
Persons: Doug McMillon, Goldman Sachs, cashews, Goldman, McMillon, Dale Peterson Organizations: Sam's, Walmart, Shoppers, Service, Sam's Club, Goldman Sachs, Target, Costco, Alabama Locations: Wall, Silicon, Alabama
REUTERS/Andrew Kelly Acquire Licensing RightsNEW YORK, Sept 13 (Reuters) - Goldman Sachs (GS.N) fired several executives in its transaction banking unit after they violated the firm's communications policy, according to a memo seen by Reuters on Wednesday. Philip Berlinski, the bank's treasurer, will take over day-to-day management of transaction banking alongside Akila Raman and Luc Teboul. The fired executives also failed to cooperate with Goldman Sachs' compliance department. The bank remains strongly committed to the transaction banking business, it said. Goldman Sachs was among the first wave of big banks regulators hit with stiff penalties for such recordkeeping failures.
Persons: Goldman Sachs, Andrew Kelly, Philip Berlinski, Akila Raman, Luc Teboul, Berlinski, Hari Moorthy, Moorthy, Saeed Azhar, Chris Prentice, Leslie Adler, Lananh Nguyen, Josie Kao Organizations: REUTERS, Reuters, FINRA's, Wall Street, Thomson Locations: Manhattan , New York, U.S
[1/2] People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. Goldman Sachs, which acted on behalf of Exor, could not immediately be reached for comment. The review "has led to the additional disclosures of gross short positions by Goldman Sachs in the AFM register", the agency said in an e-mailed statement. An AFM filing first published on Aug. 17 had showed Goldman Sachs holding a long position of 12.17% in Philips as of Aug. 14, mostly in call options. That filing has now been revised to show Goldman also was holding an indirect short position of 12.04% on Aug. 14.
Persons: Goldman Sachs, Andrew Kelly, counterbalancing, Philips, Exor, Goldman, Toby Sterling, Jamie Freed Organizations: REUTERS, Rights, Philips, Financial Markets Authority, Exor, FD, . U.S . Securities, Exchange, Thomson Locations: Manhattan , New York, U.S, Dutch, ., Philips
People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. The Fed declined to comment while Goldman Sachs and TxB did not immediately respond to a Reuters request for comment on the report. "We are not permitted to comment on any supervisory matters related to our regulators," Goldman Sachs told FT. The transaction banking business is a part of the company's Platform Solutions unit. Along with transaction banking, the Platform Solutions unit houses credit cards and a fintech unit, GreenSky purchased for $2.2 billion in 2021.
Persons: Goldman Sachs, Andrew Kelly, Goldman, TxB, GreenSky, Lavanya, Nivedita Organizations: REUTERS, U.S . Federal Reserve, Financial Times, Thomson Locations: Manhattan , New York, U.S, Bengaluru
As remote work remains popular, office buildings will become increasingly empty. Goldman Sachs estimated vacant office space will jump by 267 million square feet over the next decade and beyond. So far, that has yet to translate to big declines in office space that's rented out under a lease agreement. The forecast comes as some high-profile companies start taking a harder line on remote work. Even video-conferencing company Zoom, which is a key enabler of remote work, has asked some employees to come back to the office regularly.
Persons: Goldman Sachs, Goldman Organizations: Service, Goldman, Goldman Sachs Global Investment, Meta Locations: expirations, Wall, Silicon
People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. Goldman's private wealth arm oversees $1 trillion in assets for ultra-high net worth clients, who have $60 million or more in investable assets. The bank can serve high net worth investors through RIA and other wealth management clients, such as Creative Planning, Goldman said. Shares of Goldman Sachs were up 1.8% in afternoon trade. Goldman Sachs & Co LLC is serving as financial advisor and Weil, Gotshal & Manages LLP is serving as legal counsel to Goldman Sachs.
Persons: Goldman Sachs, Andrew Kelly, David Solomon, Goldman, Marc Nachmann, Nachmann, Daniel Fannon, Weil, Saeed Azhar, Manya, Marguerita Choy, Megan Davies Organizations: REUTERS, Creative Planning, United Capital Financial Partners, Wealth Management, Reuters, Jefferies, Co, Gotshal, Manya Saini, Thomson Locations: Manhattan , New York, U.S, New York, Bengaluru
Goldman Sachs to sell wealth advisory unit to Creative Planning
  + stars: | 2023-08-28 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Andrew Kelly//File Photo Acquire Licensing RightsAug 28 (Reuters) - Goldman Sachs (GS.N) on Monday said it has struck a deal to sell an investment advisory business to wealth management firm Creative Planning LLC. Creative Planning is an independent wealth management firm with more than 2,100 employees across its affiliates and $245 billion in combined assets under management and advisory. "It is margin accretive to Asset & Wealth Management and allows us to focus on the execution of our premier ultra-high net worth wealth management and workplace growth strategy," said Marc Nachmann, Goldman Sachs global head of Asset & Wealth Management in a statement. The bank can serve high net worth investors through RIA and other wealth management clients, such as Creative Planning, he said. Goldman Sachs & Co LLC is serving as financial advisor and Weil, Gotshal & Manages LLP is serving as legal counsel to Goldman Sachs.
Persons: Goldman Sachs, Andrew Kelly, David Solomon, Goldman, Marc Nachmann, Weil, Manya Saini, Saeed Azhar, Marguerita Choy Organizations: New York Stock Exchange, REUTERS, Creative Planning, United Capital Financial Partners, Creative, Wealth Management, Co, Gotshal, Thomson Locations: New York City , New York, U.S, Bengaluru, New York
LONDON, Aug 23 (Reuters) - The United States and China may feel some financial detente is wise at this point - even if goading one another plays well domestically. But elements of the once-feared bind of 'mutally-assured financial destruction' (MAFD) still apply. Pulling the rug out from under either - battering U.S. and Chinese demand in effect - seems to make little economic sense at least. America had new markets and investments and a seemingly durable new creditor that kept borrowing rates low and consumption up. Falling China Share of Foreign US Treasury HoldingsChina FX Reserves vs Global ReservesUS Treasury Debt Climbs as Fed Pulls Back'MAFD'But is that where the situation has landed post-pandemic?
Persons: Larry Summers, Summers, Goldman Sachs, Jim O'Neill, O'Neill, Gina Raimondo's, Stephen Jen, Eurizon SLJ, Treasuries, Deepa Babington Organizations: U.S . Treasury Securities, ., Treasury, Foreign US Treasury Holdings China FX, Global Reserves, U.S ., Commerce, U.S, Reuters Graphics Reuters, Reuters, Thomson Locations: United States, China, Washington, Ukraine, Taiwan, Hong Kong, U.S, Beijing, America
Watch CNBC's full interview with Goldman Sachs' Alec Phillips
  + stars: | 2023-08-22 | 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 EmailWatch CNBC's full interview with Goldman Sachs' Alec PhillipsAlec Phillips, Goldman Sachs Global Investment Research chief U.S. political economist, joins 'The Exchange' to discuss the likelihood of a government shutdown, the Treasury's attempt to raise funds through bond issuances and partisan disagreements about government spending.
Persons: Goldman Sachs, Alec Phillips Alec Phillips, Goldman Organizations: Goldman Sachs Global Investment Research
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