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☆ See the 95 executives Goldman Sachs tapped to join its exclusive partnership — a record high under David Solomon
▼ + stars: | 2024-11-07 | by ( Reed Alexander | ) www.businessinsider.com time to read: +11 min

Goldman Sachs on Thursday promoted 95 executives to its partnership. AdvertisementDavid Solomon, CEO of Goldman Sachs. The average tenure of the partner class is 16 years at Goldman Sachs. Marine Abiad, Global Banking & Markets, ParisBenny Adler, Global Banking & Markets, New YorkAdvertisementShahzad Ali, Controllers, New YorkAsh Ang, Global Banking & Markets, SingaporeLucia Arienti, Global Banking & Markets, LondonMatthew Armas, Asset & Wealth Management, New YorkAdvertisementPatrick Armstrong, Asset & Wealth Management, New YorkSebastian Ayton, Global Banking & Markets, ParisAmitayush Bahri, Asset & Wealth Management, LondonRob Barlick Jr, Asset & Wealth Management, MiamiAdvertisementDavid Bear, Global Banking & Markets, New YorkAmanda Beisel, Controllers, New YorkJeff Bernstein, Asset & Wealth Management, New YorkLyla Bibi, Global Banking & Markets, New YorkAdvertisementAnne Bizien, Global Banking & Markets, ParisTristan Blood, Asset & Wealth Management, LondonBrittany Boals Moeller, Asset & Wealth Management, AtlantaMarc Boheim, Asset & Wealth Management, LondonAdvertisementChris Bonner, Global Banking & Markets, New YorkKevin Boova, Global Banking & Markets, New YorkRelated storiesOonagh Bradley, Compliance, LondonTimothy Braude, Asset & Wealth Management, New YorkAdvertisementSteven Budig, Asset & Wealth Management, New YorkJacqueline Cassidy, Global Banking & Markets, New YorkSorubh Chandani, Asset & Wealth Management, New YorkPamela Codo-Lotti, Global Banking & Markets, New YorkAdvertisementBracha Cohen, Asset & Wealth Management, New YorkShaun Cullinan, Asset & Wealth Management, New YorkMarc d'Andlau, Global Banking & Markets, ParisAdam Davis, Global Banking & Markets, New YorkAdvertisementMatthew Doherty, Asset & Wealth Management, New YorkJason Eisenstadt, Global Banking & Markets, New YorkAshley Everett, Global Banking & Markets, New YorkAlex Finston, Global Banking & Markets, New YorkAdvertisementAlison Flood, Global Banking & Markets, New YorkArvind Giridhar, Global Banking & Markets, New YorkAshwin Gupta, Asset & Wealth Management, New YorkSonia Gupta, Global Banking & Markets, San FranciscoAdvertisementTerry Hagerty, Global Banking & Markets, New YorkRobert Hamilton Kelly, Asset & Wealth Management, West Palm BeachAxel Hoefer, Global Banking & Markets, FrankfurtDylan Hogarty, Global Banking & Markets, New YorkAdvertisementTim Holliday, Corporate Treasury, LondonKazuya Iketani, Global Banking & Markets, TokyoSumedh Jaiswal, Global Banking & Markets, LondonKyle Jessen, Global Banking & Markets, San FranciscoAdvertisementLotfi Karoui, Global Investment Research, New YorkFeroz Khosla, Global Banking & Markets, New YorkLarry Kleinman, Tax, New YorkJared Klyman, Asset & Wealth Management, New YorkAdvertisementDaniel Korich, Global Banking & Markets, New YorkRebecca Kruger, Global Banking & Markets, New YorkKosuke Kurosawa, Global Banking & Markets, TokyoShane Lee, Global Banking & Markets, CalgaryAdvertisementMichael Leister, Global Banking & Markets, New YorkMatthew Leskowitz, Global Banking & Markets, New YorkHilary Lopez, Asset & Wealth Management, LondonCedric Lucas, Asset & Wealth Management, New YorkAdvertisementMazen Makarem, Global Banking & Markets, New YorkMatthew Mason, Global Banking & Markets, Hong KongJans Meckel, Global Banking & Markets, ParisPatrick Moran, Legal, New YorkAdvertisementLeonie Morel, Global Banking & Markets, LondonJohn O'Connor, Global Banking & Markets, New YorkSteve Orr, Global Banking & Markets, New YorkLeke Osinubi, Engineering Division, New YorkAdvertisementElizabeth Overbay, Platform Solutions, New YorkJonathan Perry, Engineering Division, LondonThomas Plank, Global Banking & Markets, SingaporeCaitlin Pollak, Global Banking & Markets, New YorkAdvertisementLing Pong, Asset & Wealth Management, Hong KongJoe Porter, Global Banking & Markets, San FranciscoVishaal Rana, Global Banking & Markets, New YorkAlexandre Reinert, Global Banking & Markets, Hong KongAdvertisementMonique Rollins, Corporate Treasury, New YorkMarcos Rosenberg, Asset & Wealth Management, RichardsonMarc Schaffer, Global Banking & Markets, New YorkJan Scheffel, Global Banking & Markets, LondonAdvertisementRahul Sharma, Engineering Division, Menlo ParkEric Sheridan, Global Investment Research, New YorkSalil Sheth, Global Banking & Markets, New YorkJonathan Shugar, Global Banking & Markets, New YorkAdvertisementAlyson Shupe, Asset & Wealth Management, New YorkAaron Siegel, Global Banking & Markets, New YorkAdam Siegler, Global Banking & Markets, New YorkCraig Smart, Global Banking & Markets, New YorkAdvertisementAndre Souza, Global Banking & Markets, LondonThom Spoto, Asset & Wealth Management, West Palm BeachLesley Steele, Risk, LondonTeppei Takanabe, Global Banking & Markets, TokyoAdvertisementLaura van Alkemade, Global Banking & Markets, LondonDennis Walsh, Asset & Wealth Management, New YorkAlexandra Wilson-Elizondo, Asset & Wealth Management, New YorkSylvia Yeh, Asset & Wealth Management, New

Persons: Goldman Sachs, David Solomon, —, Solomon, John Waldron, Goldman, Michael Kovac, Beth Hammack, Stephanie Cohen, Katie Koch, Paris Benny Adler, Shahzad Ali, York Ash Ang, Singapore Lucia Arienti, London Matthew Armas, Patrick Armstrong, New York Sebastian Ayton, Paris Amitayush, London Rob Barlick Jr, David Bear, New York Amanda Beisel, Jeff Bernstein, New York Lyla Bibi, Anne Bizien, Tristan Blood, London Brittany Boals Moeller, Atlanta Marc Boheim, Chris Bonner, New York Kevin Boova, Oonagh Bradley, Timothy Braude, Steven Budig, Jacqueline Cassidy, New York Sorubh, New York Pamela Codo, Bracha Cohen, Shaun Cullinan, New York Marc d'Andlau, Paris Adam Davis, Matthew Doherty, New York Jason Eisenstadt, New York Ashley Everett, New York Alex Finston, Alison Flood, New York Arvind Giridhar, Ashwin Gupta, New York Sonia Gupta, Terry Hagerty, New York Robert Hamilton Kelly, Beach Axel Hoefer, Frankfurt Dylan Hogarty, Tim Holliday, London Kazuya Iketani, Kyle Jessen, Lotfi, New York Feroz Khosla, New York Larry Kleinman, New York Jared Klyman, Daniel Korich, New York Rebecca Kruger, New York Kosuke Kurosawa, Tokyo Shane Lee, Michael Leister, New York Matthew Leskowitz, New York Hilary Lopez, London Cedric Lucas, Mazen, New York Matthew Mason, Hong Kong Jans, Paris Patrick Moran, Leonie Morel, London John O'Connor, Steve Orr, New York Leke, Elizabeth Overbay, New York Jonathan Perry, Thomas Plank, Singapore Caitlin Pollak, Ling, Hong Kong Joe Porter, San Francisco Vishaal Rana, New York Alexandre Reinert, Monique Rollins, New York Marcos Rosenberg, Richardson Marc Schaffer, New York Jan Scheffel, Rahul Sharma, Eric Sheridan, New York Salil, New York Jonathan Shugar, Alyson, Aaron Siegel, New York Adam Siegler, New York Craig Smart, Andre Souza, London Thom Spoto, Palm Beach Lesley Steele, Laura van Alkemade, London Dennis Walsh, New York Alexandra Wilson, New York Sylvia Yeh, Piotr Zurawski, Emmalyse Brownstein, Reed Alexander Organizations: Service, Goldman, Business, Wall Street, Global Banking, Markets, Paris, New, Wealth Management, Asset, London, Atlanta, Compliance, San, Beach, Frankfurt, Corporate Treasury, Global Investment Research, Hong, Engineering Division, Solutions, Engineering, Menlo, Palm Beach Locations: Wall, New York, York, Singapore, London, Paris, Paris Amitayush Bahri, Miami, New, San Francisco, Tokyo, Calgary, Hong Kong

☆ Bitcoin miners beef up Texas operations ahead of extinction-level event, exclusive data shows
▼ + stars: | 2023-09-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Bitcoin miners are barreling toward the "halving" — a major market-making event that some fear will be a death knell to many in the industry. "We're taking a long-term bet on bitcoin and on the fact that bitcoin mining will survive and will bounce back even stronger." Texas has grown to dominate bitcoin mining partly because of support from local authorities and the operator of the Texas energy grid, ERCOT. Even during the bear market, Texas miners are building out, buying new sites and fresh fleets of hardware. The mining company was spun off from Chinese bitcoin mining giant Bitmain and went public via SPAC earlier this year.

Persons: Kevin Zhang, Jihan Wu, Bitmain, Kevin Zhang Crypto, He's, China — he's, Zhang, bitcoin, Barry Silbert's, Foundry's, —, Chad Harris, ERCOT, Nic Carter, Shaun Connell, Brad Jones, Brandon Arvanaghi, Jason Les, Navarro, Les, hashrate, Morgan, Bitdeer Organizations: Foundry, Mining, CNBC, U.S, Riot, Cipher Mining, Georgia, Securities Exchange Commission, JPMorgan Chase Locations: Sweden, Republic of Georgia, China, America, Beijing, Shenzhen, Montana, North America, Texas, Wyoming, New York, United States, U.S, . Texas, Castle, Rockdale, Austin, Milam, Odessa , Texas, Minden , Nebraska, , Texas, New Hampshire, Pennsylvania, Nebraska, North Carolina , Kentucky , Oklahoma, Washington

☆ On the precipice: How Credit Suisse's day of drama unfolded
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +5 min

Fifteen years later, Credit Suisse Group AG found itself on a similar precipice. By the time traders in New York were switching on screens on Wednesday, Credit Suisse had lost more than a fifth of its value. Credit Suisse did not comment for this story but noted recent interviews given by its CEO saying the bank was strong. STILL SMOLDERINGMarkets seemed to calm, but the fresh drama around Credit Suisse jogged memories that the financial system was not out of the woods yet. "We welcome the statement of support," Credit Suisse said.

☆ JPMorgan's acquisition strategy is coming under fire. Here are the 15 fintech and consumer-focused deals done by the bank since 2020.
▼ + stars: | 2023-01-13 | by ( Carter Johnson | Rebecca Ungarino | ) www.businessinsider.com time to read: +19 min

NutmegDeal details: JPMorgan announced the acquisition in June 2021, paying approximately $1 billion. cxLoyaltyDeal details: JPMorgan said it would buy cxLoyalty's global loyalty division in December 2020. ProxymityDeal details: JPMorgan, Citi, HSBC, and other firms together invested $20.5 million in Proxymity in May 2020. Viva WalletDeal details: JPMorgan said it would acquire 49% of Viva Wallet in January 2022, pending regulatory approval. Christian Petersen-Clausen/Getty ImagesRenovite TechnologiesDeal details: JPMorgan announced on September 12 it plans to acquire Renovite.

☆ JPMorgan is continuing its push into fintech with a deal to partner with buzzy treasury startup Trovata
▼ + stars: | 2022-12-13 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Trovata, a cash management fintech startup, has partnered with JPMorgan Asset Management. JPMorgan has continued its push into fintech with a partnership with US cash management startup Trovata. California-based Trovata, which was founded in 2016, has been repeatedly backed by JPMorgan and has raised $57.6 million from investors to date. The startup offers cash management services to companies through an API. The tie-up will see Trovata host Morgan Money, JPMorgan's trading and risk management infrastructure, on its platform.

☆ KBW upgrades Goldman Sachs, sees 40% rally in the stock
▼ + stars: | 2022-10-07 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Goldman Sachs is a buying opportunity that can jump 40% from here, according to Keefe, Bruyette & Woods. Analyst David Konrad upgraded shares of Goldman Sachs to outperform from market perform, saying that the the firm's valuation based on tangible book value (TBV) looks attractive. Goldman Sachs has come under pressure this year — with shares down 20.4% — as the firm contended with growing concern over a recession and a dearth of investment banking. Still, the analyst said he specifically approves of the bank's efforts to move private equity assets over to a third party, will help reduce revenue volatility for Goldman Sachs, while also growing its alternatives asset business. KBW raised its price target on the stock to $429 from $395.

☆ Crypto’s bear market is unlike others before it. This time the Fed's steering the ship
▼ + stars: | 2022-09-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +17 min

In any other year, the bitcoin price would have skyrocketed after the BlackRock announcement, but it didn't. Bitcoin hit its all-time high on Nov. 8, less than a week after the Fed first introduced the tapering . "Bitcoin OGs want to believe that it's a risk-off asset – that's a long-term trajectory," said Burak Tamac, senior researcher at CryptoQuant. It's bitcoin that's received so much hostility about being environmentally unfriendly, but myths about the cryptocurrency's environmental impact are slowly being debunked . Beyond bitcoin, crypto remains just a little too out of reach for many.

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