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☆ When it comes to your Wall Street internship, revert to the mean
▼ + stars: | 2023-06-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Wall Street's summer internship is officially here as investment banks open up their doors to eager college students. The 10-week internship program represents a critical juncture for aspiring Wall Streeters. Lucky for you, Insider's Emmalyse Brownstein has a foolproof guide for how to navigate your Wall Street internship, mapping out the key dos and don'ts. Read more about everything you should, and shouldn't, do during your Wall Street internship. One to watch at Goldman Sachs.

Persons: Dan DeFrancesco, Lydia Warren, we've, Goldman Sachs, Let's, Wall, Brownstein, Banks, Read, Brad Pitt's, He's, you've, Leo Bogdanov, KKR's, Nishi Somaiya, John Waldron, Daniel Pinto, Balyasny, Jane Fraser, We've, Jeffrey Cane, Hallam Bullock Organizations: KKR, nab, Citadel, Goldman, JPMorgan, Millennium, UBS, LinkedIn Locations: Hawaii, Wall, New York, London

☆ Why Goldman Sachs' John Waldron Flagged This 'Young, Talented' Banker
▼ + stars: | 2023-06-02 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Goldman Sachs' COO, John Waldron, gave a speech on Thursday touting the firm's growth opportunities. The shoutout comes as Goldman Sachs joins its Wall Street peers by seeking to boost its wealth business that caters to the rich. Waldron on Thursday admitted that Goldman has "underinvested" in the private wealth business. Goldman's wealth business Goldman Sachs has about 1,000 advisors overseeing $1 trillion for its ultra-high net worth clients with at least $10 million to invest. The unit works closely with moneyed entrepreneurs, prime targets for Goldman's private wealth business.

Persons: Goldman, John Waldron, Nishi Somaiya, Goldman Sachs, David Solomon's, Nishi, We've, Waldron, Somaiya, Marc Nachmann Organizations: Oxford, Private, Silicon Valley Bank, UBS's, Credit Suisse, Bloomberg, University of Oxford, Royal Ballet School Locations: Silicon, Europe, Americas, SVB

NEW YORK, June 2 (Reuters) - Citigroup Inc (C.N) CEO Jane Fraser said scrapping the sale of its Mexican retail business, known as Banamex, and pursuing an initial public offering (IPO) was in the best interest of shareholders. "We acted decisively, we acted very swiftly and we said 'okay, we're gonna go down the IPO path,'" Fraser said in an investor conference in New York. Citi announced last week the sale process, which had dragged on for more than a year, had been scrapped. It has signed nine sales agreements nine markets and closed seven deals, including in Australia, India and Vietnam. The CEO held off on giving guidance about trading revenue, citing a landmark U.S. bill to lift the debt ceiling that has just passed and is still being digested by markets.

Persons: Jane Fraser, we're, Fraser, Goldman, John Waldron, Morgan Stanley, Tatiana Bautzer, Saeed Azhar, David Gregorio, Lananh Nguyen, Nick Zieminski Organizations: YORK, Citigroup Inc, Citi, Goldman Sachs, Inc, JPMorgan, Bank of America Corp, Citigroup, Thomson Locations: New York, Australia, India, Vietnam, U.S, Ukraine

[1/2] John Waldron, president and Chief Operating Officer of Goldman Sachs, speaks during the Goldman Sachs Investor Day at Goldman Sachs Headquarters in New York City, U.S., February 28, 2023. REUTERS/Brendan McDermidNEW YORK, June 1 (Reuters) - Goldman Sachs Group Inc (GS.N) plans more workforce reductions as the difficult economic environment weighs on dealmaking, the bank's president said on Thursday. "The macro backdrop is extraordinarily challenging," Goldman's President and Chief Operating Officer John Waldron told investors at a conference, without specifying the scale of the layoffs. The firm is expected to cut fewer than 250 jobs in the coming weeks, a source familiar with the matter told Reuters in May. He also said he expects a 25% fall in market revenue for both equities and fixed income in the current quarter from a year earlier.

Persons: John Waldron, Goldman Sachs, Brendan McDermid, Waldron, Andy Saperstein, Morgan Stanley, Daniel Pinto, Saeed Azhar, Niket, Nick Zieminski Organizations: Goldman, REUTERS, Goldman Sachs Group Inc, Reuters, Wall Street, JPMorgan Chase, Thomson Locations: New York City, U.S, Wall

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.

☆ Meet Kim Posnett, the powerful Goldman Sachs dealmaker who was just named head of the investment bank's TMT unit
▼ + stars: | 2023-05-03 | by ( Reed Alexander | ) www.businessinsider.com time to read: +10 min

Kim Posnett was just named head of Goldman's all-important TMT investment banking group. Posnett, 43, has long been one of the most senior figures at Goldman's investment bank. Posnett was previously the head of Goldman's investment-banking services unit, which acts as a salesforce for the global IB division. The former co-head of Goldman's TMT franchise will become co-chairman of the unit. The former would result in the IB services group, which functions, in effect, as a sales force.

☆ Where Goldman Sachs CEO David Solomon takes the corporate jet
▼ + stars: | 2023-04-24 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +15 min

"The Board fully supports the use of the Goldman Sachs planes for travel, just as it supported the use of private aircraft by previous Goldman Sachs executives," said Tony Fratto, a company spokesman. "Executives at Goldman Sachs have been flying on private aircrafts for decades as it is proven to be the most secure, effective, and cost-efficient solution to meet the extensive travel obligations for CEOs of firms like Goldman Sachs — which is why all of our peer institutions also extensively use private aircraft." John Waldron, president of Goldman Sachs Reuters/Brendan McDermidOccasionally, Solomon and Waldron switch planes, particularly when Waldron flies overseas. Goldman Sachs has a sponsorship deal with pro golfer Patrick Cantlay. "These estimates wildly overstate the cost of such flights to Goldman Sachs and are not an accurate representation," he said.

☆ Where is Goldman Sachs' David Solomon going on those private jets?
▼ + stars: | 2023-04-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Insider's Dakin Campbell compiled flight data on Goldman Sachs' two private planes from the beginning of 2022 through March of this year. Much of the focus on Goldman's jets, as Insider has previously reported, has been Solomon's personal use of them. If Goldman and Solomon are playing by the rules, why does it matter? And while I've written before about corporate jets being the scapegoat for excessive spending, that was moreso regarding business travel. Click here for all the details on where Goldman's two private planes have flown since 2022.

☆ 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.

☆ Goldman Sachs executives to rally investors in New York
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +6 min

[1/2] A Goldman Sachs sign is seen above their booth on the floor of the New York Stock Exchange, January 19, 2011. REUTERS/Brendan McDermid/File PhotoNEW YORK, Feb 28 (Reuters) - Goldman Sachs Group Inc's (GS.N) Chief Executive David Solomon and top executives will give investors an update on their strategy on Tuesday. DAN DEES, CO-HEAD OF GLOBAL BANKING & MARKETS, 52Dan Dees is the co-head of Goldman's global banking and markets division. JULIAN SALISBURY, CHIEF INVESTMENT OFFICER OF ASSET AND WEALTH MANAGEMENT, 51Julian Salisbury is chief investment officer of Goldman's asset and wealth management unit. KIM POSNETT, CO-HEAD OF ONE GOLDMAN SACHS, 45Kim Posnett is co-head of One Goldman Sachs, the company's program to unify its approach to clients across divisions.

☆ David Solomon says Goldman Sachs is exploring 'strategic alternatives' for its struggling consumer business
▼ + stars: | 2023-02-28 | by ( Carter Johnson | Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Goldman Sachs is exploring "strategic alternatives" for its nascent consumer banking business. Goldman Sachs is exploring "strategic alternatives" for its nascent consumer banking business, CEO David Solomon and executives revealed on Tuesday at the Wall Street bank's second ever investor day. The phrase "strategic alternatives" is often used as company jargon for a sale or merger. Beyond a sale, strategic alternatives can also involve a spinoff, or other restructuring or alliance to drive value for shareholders. Screenshot of Stephanie Cohen speaking at Goldman Sachs' investor day ScreenshotSolomon held the bank's first ever investor day in 2020 just before the pandemic.

☆ Goldman doubles down on the wealthy, as it should
▼ + stars: | 2023-02-28 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +7 min

Instead, he indicated that the wealth business would be a “key driver for growth." One key pillar of that plan is Goldman’s alternative assets business, which includes running buyout, private credit and real-estate investing funds. For example, Goldman plans to take $2 billion in management and other fees from the alternative business next year. Last year, of the $72 billion Goldman raised for alternative, a third of that came from its wealth business. Goldman has dabbled in this now-dubbed “One Goldman” concept before, and gave it significant airtime on Tuesday.

☆ Some Goldman Sachs partners want to tell the board about their concerns over CEO David Solomon
▼ + stars: | 2023-02-08 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +15 min

A decline in morale at the Wall Street firm concerns some Goldman partners. Here are their concerns about CEO David Solomon, who addressed the partners in Miami. CEO David Solomon addressed Goldman Sachs' partners today at the firm's annual partners meeting in Miami. There's little history for Goldman partners taking their concerns directly to the board. Since then, according to someone who has spoken to investors, more shareholders have questioned how long Solomon can last as Goldman's CEO.

☆ Companies are eager to tackle issues like the climate crisis and sustainability but don't know how to start, execs say
▼ + stars: | 2023-01-27 | by ( Matt Turner | ) www.businessinsider.com time to read: +3 min

Executives at the World Economic Forum told Insider issues like sustainability are a priority. But many companies are still looking for a place to start tackling problems like the climate crisis. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. The climate crisis, sustainability, and the energy transition were front of mind for many in Davos. Several of those who spoke with Insider highlighted the need for much-greater collaboration among companies — and a willingness to experiment.

☆ We spoke with more than 50 CEOs, billionaires, execs, and government officials in Davos. Here are our 4 biggest takeaways.
▼ + stars: | 2023-01-25 | by ( Matt Turner | Cadie Thompson | ) www.businessinsider.com time to read: +10 min

Insider's Matt Turner and Cadie Thompson share their biggest takeaways from the World Economic Forum. More than 1,500 business leaders descended on Davos in the Swiss Alps last week for the World Economic Forum's annual meeting. The week of Davos, Alphabet published an explainer on its approach to AI signed by execs including CEO Sundar Pichai. "With every technology, there is good and then there's bad," Rima Qureshi, Verizon's chief strategy officer, told Insider. Several of those who spoke with Insider highlighted the need for much-greater collaboration among companies — and a willingness to experiment.

☆ Outperforming asset manager picks the stocks set to win as margins get squeezed
▼ + stars: | 2022-11-25 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

"Consumers are going to have their purse strings pulled by utility bills, higher mortgage costs, higher petrol prices, and there's going to be margin squeeze." He said wage pressure and higher commodity prices were particularly challenging and could eat into companies' margins. Luxury Luxury stocks are another favorite for Armstrong. Moreover, the "massive" profit margins of luxury companies are also insulated from increases in input prices, he added. Within the space, Armstrong's fund owns French luxury goods companies LVMH and Hermes , given their "defendable margins" and the ability to be price setters.

☆ Watch CNBC's full interview with Goldman Sach's John Waldron
▼ + stars: | 2022-10-25 | 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 Sach's John WaldronJohn Waldron, Goldman Sachs president and COO, joins 'Power Lunch' to discuss what different executives are telling him about the state of the economy, where inflation ranks on the list of problematic headwinds and the ultimate culprit for recession.

☆ Most CEOs are still of the belief the U.S. economy is pretty resilient, says Goldman Sachs president
▼ + stars: | 2022-10-25 | 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 EmailMost CEOs are still of the belief the U.S. economy is pretty resilient, says Goldman Sachs presidentJohn Waldron, Goldman Sachs president and COO, joins 'Power Lunch' to discuss what different executives are telling him about the state of the economy, where inflation ranks on the list of problematic headwinds and what the ultimate culprit will be for recession.

☆ Top banking execs debate global central bank policy amid sky-high inflation
▼ + stars: | 2022-10-14 | 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 EmailTop banking execs debate global central bank policy amid sky-high inflationCNBC's Geoff Cutmore moderates an IIF panel with Christiana Riley, CEO at DB USA Corp, John Waldron, president and COO at Goldman Sachs, and Axel Weber, chair at the IIF.

☆ Goldman Sachs insiders say they are concerned about CEO David Solomon's push to build his personal brand, pointing to staff help for his DJing and use of the firm's planes
▼ + stars: | 2022-09-21 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +15 min

As David Solomon, Goldman Sachs' CEO, was wrapping up a work trip in late July, he boarded the company's Gulfstream G650 for Chicago. His personal account cites his role as Goldman Sachs' CEO, while his official Goldman Sachs account links to his personal account. As CEO, Solomon has overseen the firm's first investor day, launched a strategic update, and reaped record revenue of $59.3 billion in 2021. The Goldman representative disputed that characterization, saying the number of executive TV appearances has more than doubled over the past year. A Goldman representative said that Payback is run by music-industry consultants and that no Goldman Sachs resources are used for the platform.

☆ Goldman Sachs is going through a massive transformation under CEO David Solomon
▼ + stars: | 2022-05-16 | by ( Business Insider | ) www.businessinsider.com time to read: +6 min

Goldman Sachs CEO David Solomon has been taken steps to transform the bank. Here's a rundown of other must-know news at Goldman, from struggles at its Marcus consumer bank to its return-to-office push, hires and exits. In November 2021, Goldman Sachs elevated 643 people to its 2021 class of managing directors, marking its largest class yet. Read more:Junior bankers in focusPeople enter and exit 200 West Street the Goldman Sachs building in New York. The going rate for investment-banking analysts on Wall Street, including Goldman Sachs, is now $110,000 before bonus, up from $85,000 pre-pandemic.

☆ 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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