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☆ 6 top Goldman dealmakers, from Dan Dees to Gene Sykes, reflect on their careers at the investment bank, from junior banker to partner
▼ + stars: | 2024-08-01 | by ( Reed Alexander | ) www.businessinsider.com time to read: +12 min

Wall Street careers are notoriously grueling and littered with politicking and jockeying to climb the ranks. AdvertisementNow, these six partners are looking back on their own rise, offering words of wisdom from their own Wall Street origin stories. At Goldman Sachs, the core of who we are in investment banking is M&A. Gene Sykes, cochairman of global M&A and global TMT:Gene Sykes Courtesy of Goldman SachsThe market for M&A advice has evolved over time. Are you a Goldman Sachs or Wall Street insider?

Persons: Goldman Sachs, Alison Mass, Stephan Feldgoise, Dan Dees, Hank Paulson, Tim Ingrassia, Alison, Goldman, Peter Weinberg, Gene Sykes, It's, Mark Sorrell, John Thornton, John Waldron, Karen Cook, Yoel Zaoui, Gregg Lemkau, it's, Jennifer Kopylov, Reed Alexander Organizations: Service, Wall, Partners, Business, US Treasury, Street, Goldman Locations: New York City, London, New York, Europe, American

☆ AI tools for Goldman's workforce set to 'land at scale on desks' as soon as next year: partner
▼ + stars: | 2024-06-27 | by ( Reed Alexander | ) www.businessinsider.com time to read: +8 min

For Goldman Sachs' investment bankers, the answer may just be over the horizon. Top Goldman executives told Business Insider that the investment bank is poised to roll out a series of generative AI tools to its workforce as soon as next year. Lee, a Goldman partner, said it could take years for the consequences of this tech on the bank's workflows to be fully understood. But he is overall optimistic about how generative AI, an advanced type of machine learning, will impact its workforce. Many junior bankers spend time on tasks that can sometimes feel "relatively routine," Lee said.

Persons: —, Goldman Sachs, Goldman, George Lee, cohead, Lee, it's, Jamie Dimon, Alison, Tim Ingrassia, Gene Sykes, dealmakers, David Solomon, Ingrassia, Reed Alexander Organizations: Service, Business, Goldman Sachs Global Institute, JPMorgan, Goldman, New York Times, Deutsche Bank

☆ With signs of an M&A comeback, Goldman Sachs' bankers are raring to win. Do they still have what it takes following a raft of partner exits?
▼ + stars: | 2024-06-12 | by ( Reed Alexander | ) www.businessinsider.com time to read: +13 min

AdvertisementDavid Solomon Goldman SachsPressure-cooker cultureWith signs suggesting mergers and acquisitions could soon return — including the megadeals Goldman specializes in — the firm's dealmakers are itching to end 2024 on a high note. In M&A, Goldman has fallen to No. AdvertisementMark Sorrell Goldman SachsGoldman is also seeking to become more interconnected across its business lines via the One Goldman Sachs program. "They figure that if they're talking to one person at Goldman Sachs, they're talking to everybody." The result, bankers said, is an M&A machine built to withstand threats like star dealmakers leaving for more-nimble rivals.

Persons: —, Goldman Sachs, Bill Quinn, Goldman, Jacki Zehner, Rishi Bali, Hank Paulson, John Thornton, John Thain, David Solomon, Solomon, Dan Dees, What's, David Solomon Goldman Sachs, Gene Sykes, Alison, It's, LSEG, dealmaking, Goldman dealmakers, Momo Takahashi, We've, Mark Sorrell, Mark Sorrell Goldman Sachs Goldman, Sykes, they're, Sorrell, Dees, it's, Dan Dees Goldman Sachs, we're, John Waldron, Kim Posnett, that's, Timothy Ingrassia, Ingrassia, Stephan Feldgoise, I'm, Reed Alexander Organizations: Service, Business, Goldman, JPMorgan, playbook Bank, Wall Street, Competition, & $ Locations: Silicon Valley, London, New York City, Latin America

☆ 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

☆ 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

☆ Goldman Sachs leaders are charting a course for the bank's future in Miami for the second year in a row. Here's how the stakes are different this time.
▼ + stars: | 2024-02-07 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

The Miami Beach Edition hotel on Collins Avenue, where conferences for Goldman parnters are being held. Inside the Edition Hotel in Miami, which is playing host to the Goldman Sachs partner conference this week. The Faena Hotel along Collins Avenue is also playing host to some Goldman partners and events this week. A spokesperson for Goldman Sachs declined to comment about the Miami gathering this week. Are you a Goldman Sachs or Wall Street insider?

Persons: Goldman Sachs, confab, —, Goldman, Denis Coleman, Avinash, Goldman parnters, Emmalyse, David Solomon, Solomon, Lloyd Blankfein, he's, Reed Alexander Big, Solomon —, John Waldron —, Solomon himself, Emmalyse Brownstein Goldman, George Lee, Alison Mass, Trevor Noah, decamped, Reed Alexander Organizations: Magic City, Miami Beach, Business, Wall Street Journal, Goldman, Wall Street Locations: New York, London, Miami, Collins, New York City, South Florida, ralexander@businessinsider.com

☆ Why former Goldman Sachs partners say they left the firm
▼ + stars: | 2023-09-20 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +23 min

Goldman Sachs partners are leaving — some 202 during David Solomon's five years as CEO by Insider's calculation. In particular, before Solomon, Goldman nurtured many fiefs and then spread the wealth from the most successful ones across the firm. Of the former Goldman executives that Insider interviewed, here are the most cited reasons they gave for leaving Goldman. When both men struggled, senior partners left, and Goldman stumbled in its efforts to wind down its balance-sheet investments. Goldman Sachs partners are paid well by any standard: $950,000 in base salary and often multiples of that in annual bonuses.

Persons: Goldman Sachs, David Solomon's, Solomon, Goldman, David Solomon, John Waldron, Goldman's, Adebayo Ogunlesi, Mike Mayo, Andrew Toth, Devin Ryan, Ryan, Waldron, Tony Fratto, Mike Blake, Eric Lane, Julian Salisbury, Lane, Luke Sarsfield, Sarsfield, Marc Nachmann, he's, Fratto, Stephanie Cohen, Cohen, Kathy Ruemmler, Charles Dharapak, Barack Obama's, Kenneth Lay, Jeffrey Skilling, Ruemmler, Unbeknown, Jeffrey Epstein, dealmaking, David S, Holloway, Mayo, David doesn't, GreenSky, Brendan McDermid, It's, Alison Mass, Hank Paulson, Russell Horwitz, David, it's, Emmalyse Brownstein Organizations: Wall, JPMorgan, Wells, Wells Fargo Securities, Investors, Goldman, AWM, Sarsfield, BAE Systems, Justice Department, Street Journal, Bloomberg, Employees, Partners, Federal Reserve, United Capital Financial Partners, Reuters, GreenSky Locations: New York, Wells Fargo, Salisbury, Manhattan, Texas, Plano, London, Paris, Chicago

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