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☆ 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

☆ 'Everything gets harder from here': Why top investors are down on the market, economy
▼ + stars: | 2023-10-03 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +6 min

Some of the market's biggest stock market investors echoed this view. Ackman said on Monday morning he didn't expect another rate hike. "If you just listen to their words, you know, you have to be pretty fearful there's going to be another rate hike. "Those numbers need to be supportive," Rieder had said of inflation data and jobs data including the JOLTS report in an interview with CNBC on the sidelines of DA. Ackman, even betting against another rate hike, has a view of inflation that sees it being persistently higher and placing more pressure on yields.

Persons: Bill Ackman, Katie Koch, reprice, Koch, Cash, Brad Gerstner, Gerstner, We've, Ackman, That's, they're, Jerome Powell, Volcker, Rick Rieder, You've, Rieder Organizations: Federal Reserve, Dow Jones, CNBC, Alpha, TCW, DA, Fed, Labor, BlackRock

☆ CNBC Daily Open: Long-term prospects are uncertain
▼ + stars: | 2023-09-29 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

People walk outside of the New York Stock Exchange (NYSE) in the financial district in Manhattan on June 14, 2022 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Big population but small labor forceEven though India's population of 1.428 billion has surpassed that of China's, according to UN estimates, the country's labor force is only at 51%, trailing behind China's 75%. When that happens, this simple bond trade can earn you 40% in returns, said investment analysts.

Persons: Hong, Bill Ackman, Rick Rieder, Katie Koch Organizations: New York Stock Exchange, CNBC, Nikkei, Alpha, Pershing, Capital Management, Treasury, BlackRock, Federal, TCW, China's, Oxford Economics Locations: Manhattan, New York City, Asia, Pacific, Tokyo, U.S, China

☆ Top money managers are warning of pain ahead for the US economy. Here are 6 areas where they're investing right now to prepare.
▼ + stars: | 2023-09-29 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

"There is a subset that simply cannot do that," she said of paying down credit card debt going forward as rates rise. "In those tails and subsets I think you're going to have really unusual delinquencies, and just horrible recovery rates." You're going to see defaults increase." Delaney also emphasized being defensive, and said he likes corporate bonds, but those with floating rates, meaning they move with the market rate. The iShares 10-20 Year Treasury Bond ETF (TLH) is one way to gain exposure to long-term government bonds.

Persons: Dawn Fitzpatrick, Katie Koch, haven't, it's, Mark Delaney, Suni Harford, I'd, Brad Gerstner, Jerome Powell, Volcker, Koch, —, We're, Rick Rieder, he's, Delaney, Fitzpatrick Organizations: CNBC's, Alpha, Federal Reserve, Soros Fund Management, TCW, UBS, Management, BlackRock, JPMorgan, Corporate, Treasury Bond ETF, Vanguard Energy, DB Oil Fund Locations: Europe, Saudi Arabia

☆ A recession is coming and investors should be defensive, TCW CEO says
▼ + stars: | 2023-09-28 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

A recession is all but inevitable for the U.S. and investors should be playing defense in that kind of environment, according to the head of the TCW Group. "We are going to have a recession, because that's the way the world works," Katie Koch, CEO of the firm with $210 billion under management, said Thursday at CNBC's "Delivering Alpha" conference. Higher rates have long been thought to work with lag effects, the timing of which is uncertain and dependent on a variety of factors. "I do think it pays to be patient and wait to see higher rates work their way through the system," Koch said. "We haven't seen the pain of higher rates, but it's coming."

Persons: Katie Koch, Koch Organizations: U.S, TCW, Alpha Locations: U.S

July 28 (Reuters) - Goldman Sachs (GS.N) executive Julian Salisbury will join investment firm Sixth Street as a partner and co-chief investment officer early next year, his incoming firm said, marking yet another high-profile exit from Goldman. Salisbury will reunite with Goldman alums in his new role, including Sixth Street CEO Alan Waxman. Salisbury became a partner in 2008 and previously served as global co-head of the asset management unit before it was combined with wealth management under Marc Nachmann last year. Goldman's asset management division has promoted 11 partners and hired nine new managing directors focused on investing this year, a company spokeswoman said. Salisbury has "done a great job putting together all these asset management businesses over the last few years," Nachmann said in an interview.

Persons: Goldman Sachs, Julian Salisbury, Salisbury, Goldman alums, Alan Waxman, Marc Nachmann, Julian, Waxman, Dina Powell McCormick, Gregg Lemkau, Katie Koch, Goldman, Nachmann, It’s, David Solomon, Lloyd Blankfein, Manya Saini, Niket, Lananh Nguyen, Vinay Dwivedi, Matthew Lewis Organizations: Sixth, Goldman, MSD Partners, TCW, Reuters, Thomson Locations: Goldman, Salisbury, London, Moscow, New York, Russia, China, Bengaluru, Lananh

☆ What the heck is going on at Goldman Sachs
▼ + stars: | 2023-06-23 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

It's been non-stop negativity over at Goldman Sachs recently. The bad news just keeps rolling in over at Goldman Sachs. The Economist put a fine point on this earlier this year when it ran a cover story titled "The humbling of Goldman Sachs." But Goldman Sachs' historic partnership model has given it a distinct culture, where these kinds of things matter. Whatever the truth is, it's clear that Goldman Sachs and David Solomon are going to remain in the headlines for some time.

Persons: It's, Goldman Sachs, David Solomon's, Dakin Campbell, grumbling, Solomon, Goldman, David Solomon, it's, Dina Powell McCormick, Gregg Lemkau, Stephen Scherr, Eric Lane, Katie Koch, Fred Baba, he's, he'd, John Rogers, Tony Fratto Organizations: Goldman, Wall Street, The New York Times, Silicon Valley Bank, DJ, Discovery Land Company, New York Times, Air Mail Locations: California

David Solomon has been Goldman Sachs' CEO for over four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. Solomon said there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." Meanwhile, Solomon's expensive foray into consumer banking raised the ire of some longtime Goldman partners, as Insider has previously reported. The fresh faces among the Goldman Sachs executives who took the stage at the bank's investor day highlight the leadership changes under Solomon.

☆ Here are the 5 key takeaways from this year's Milken Global conference
▼ + stars: | 2023-05-05 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +12 min

The pullback by banks is raising the hopes of those in the private credit industry. Some panelists and others who spoke in the hallways of the event suggested that there was a large-scale handoff from private equity to private credit. Many private-equity firms are scrambling to raise private credit funds to take advantage. "I don't think this is the end of private equity, but the environment certainly favors private credit," he said. And that will show up in lower returns for private credit funds, she said.

Instead, fixed income, which was unpopular when rates were low, is back in favor and seeing strong capital flows into products like bond funds, said fund managers at the Milken Institute Global Conference this week. Attendees also discussed whether federal regulators should raise FDIC deposit insurance after First Republic Bank was seized and sold to JPMorgan, and how markets will react to even higher interest rates and potentially more market volatility. Others warned that companies will soon have to refinance their debt at higher rates, making them less attractive. Instead, thanks to higher interest rates, fixed income is once again playing a bigger role in portfolios. "The Fed has helped us put the income back in fixed income," said Anne Walsh, Chief Investment Officer for Guggenheim Partners Investment Management.

☆ Since David Solomon became Goldman Sachs CEO, more than 80 partners have left. See the running list here.
▼ + stars: | 2023-03-03 | by ( Carter Johnson | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

David Solomon has been Goldman Sachs' CEO for more than four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. In reality, Solomon said, there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." "At the moment, year-to-date, our turnover is at a 5-year low, not just for partners, in the whole firm," Solomon added. Here is a running list of Goldman's partners that have retired from the firm — or moved on to roles at other companies — since Solomon became CEO.

☆ Dozens of Goldman Sachs partners have departed the bank since David Solomon became CEO. See the running list here.
▼ + stars: | 2020-02-27 | by ( Carter Johnson | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

David Solomon has been Goldman Sachs' CEO for more than four years after succeeding Lloyd Blankfein. There's been a lot of talk about morale at Goldman Sachs. In reality, Solomon said, there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." "At the moment, year-to-date, our turnover is at a 5-year low, not just for partners, in the whole firm," Solomon added. Here is a running list of Goldman's partners that have retired from the firm — or moved on to roles at other companies — since Solomon became CEO.

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