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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
Here are 6 signals investment bankers are watching as they pray for an M&A rebound in 2024. By contrast, activity from private equity firms "was off almost 40%," he said. In 2021, private equity firms transacted $1.5 trillion across 2,869 deals, according to Dealogic. Last year, private equity M&A made up 40% of total activity, according to Goldman Sachs. AI companies, many of which are only now being formed, need to mature, and the winners and losers need to come into focus, bankers said.
Persons: Wall, LSEG, Goldman Sachs, Vito Sperduto, Sperduto, we've, Stephan Feldgoise, Hess, Anthony J, Carfang, Cash, Goldman, Goldman's Feldgoise, Feldgoise, Mark Sorrell, I'm, Harold M, Lambert, Jerome Powell, Greg McBride, McBride, Jonathan Gray, dealmaking, Gray, Rob Chisholm, Chisholm Organizations: Fed, London Stock Exchange, Business, RBC Capital Markets, Conference Board, Conference, Federal, Goldman, Federal Reserve, Private, Bankers, DOJ, FTC, Federal Reserve Board, Bankrate, of Labor Statistics, Cisco, LSEG, Qatalyst Partners, Citi, & $ Locations: LSEG, Ukraine
The climate crisis is coming for your hoppy beer
  + stars: | 2023-10-10 | by ( Rachel Ramirez | ) edition.cnn.com   time to read: +4 min
“One of the side motives of this study was to illustrate how climate change might be important for even those who think it doesn’t matter,” Trnka told CNN. Now, each of the basic ingredients of today’s beer — water, barley, yeast and hops – are threatened by global warming. Researchers used weather data and climate models to analyze how European hops have been and will be affected by climate change between 1970 and 2050, assuming precipitation decreases and temperature increases. Felix Kästle/picture alliance/Getty ImagesIn recent years, more consumers are preferring beer aromas and flavors that require higher-quality hops, according to the study. Since these hops are only grown in smaller regions, researchers say they’re put at even higher risk from climate change-fueled heat waves and droughts.
Persons: Miroslav Trnka, ” Trnka, , Beer, I’m, , Douglass Miller, ” Miller, Felix Kästle, they’re, Mark Sorrells, Sorrells, Trnka, it’s Organizations: CNN, Nature Communications, Change Research, Cornell University, Cornell University’s School, Integrative Plant Locations: Germany, Czech Republic, Slovenia, Pacific Northwest
Goldman was forced to share its M&A crown with JPMorgan last quarter. It's been a tough road in 2023 for the Wall Street banks that specialize in advising on mergers and acquisitions. In a note sent to Goldman's alumni network last Tuesday, Feldgoise acknowledged that things have been tough. The importance of Goldman's M&A franchise was underscored by the bank's first-quarter earnings released Tuesday. "The Goldman M&A franchise has been #1 for 20+ years," Feldgoise said in his letter.
REUTERS/Lucas JacksonNEW YORK, Jan 4 (Reuters) - Goldman Sachs Group Inc's (GS.N) top dealmakers are bullish on a recovery in global mergers & acquisitions (M&A) in the second half of 2023 despite a slowdown in economic growth and a weak credit market. The projections come after global M&A values slumped 36% to $3.78 trillion in 2022, from a record $5.91 trillion in 2021, according to Dealogic data. "I remain quite bullish, maybe not on the first quarter, but certainly as we go forward," said Stephan Feldgoise, global co-head of M&A. The company has been the top global M&A adviser by revenue for the past 20 years, followed by JPMorgan Chase & Co (JPM.N), according to Dealogic data. The bank sees opportunities in advising clients who are being targeted by activist investors, or fintech companies open to suitors after their valuations plunged, said Russ Hutchinson, the bank's chief operating officer of global M&A.
Goldman on Monday elevated Avinash Mehrotra and Brian Haufrect as the new co-heads of Americas M&A, according to an internal memo seen by Reuters. Both Mehrotra, who currently is the head of global activism and takeover defense, and Haufrect, who is global head of natural resources M&A, will continue to hold their existing roles on top of their new responsibilities. Russ Hutchinson will rejoin Goldman's investment banking unit as chief operating officer of its global M&A business, according to the memo sent to employees by Goldman's global co-heads of Global Banking & Markets, Dan Dees and Jim Esposito. Haufrect, who heads Goldman's natural resources deals franchise, was made partner at Goldman in 2016, according to his LinkedIn profile. Goldman's top six dealmakers - global co-heads of M&A, Stephan Feldgoise and Mark Sorrell, and M&A chairmen, Tim Ingrassia, Dusty Philip, Gilberto Pozzi and Gene Sykes - will continue running the franchise, according to the memo.
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