Goldman Sachs Group (the) Stock News

Former Goldman Sachs star executive Tim Leissner told a courtroom this week that he held a lucrative side gig with another firm while he was still a partner at the bank – and participating in a scheme to pilfer billions of dollars from Malaysia’s 1MDB sovereign development fund.

Rabobank: That Is Perhaps The End Of Western Liberal Global Capitalism As We Knew It By Michael Every of Rabobank Despite know-nothing, buy-anything market expectations that peace talks would prompt a rapid end to this war --because markets-- we are no nearer that happening . Russia is still insisting Ukraine surrender or be flattened: so far, it won’t do and is being. Russian media calls Ukraine Nazi… as Russians wear the same color shirt with ‘Z’s emblazoned on them, wave flags and pump fists in unison, shouting “ Za Russiu! Za Presidenta! Za Putina! ” (“For Russia! For the president! For Putin!”) They think they are fighting WW2. Which is ironic given The Economist points out Russia is being Stalinized. Ukrainians remain as defiant as they were in WW2 too. The Russian people are now the poorest in Europe per capita (lower in dollar terms than Moldova): yet Putin says Western sanctions were going to be imposed anyway, and they will adapt. And adapt they are. As a mirror to the Western seizure of Russian yachts and mansions in Europe, foreign business assets of departing firms in Russia --which now include Goldman Sachs and JP Morgan - and when you’ve lost the “vampire squid”…-- will be auctioned off to Russian bidders, and if none emerge the state takes control.

Goldman Sachs Group Inc (NYSE: GS ) and JPMorgan Chase & Co (NYSE: JPM ) announced they were unwinding their Russian businesses, becoming the first major U.S. banks to exit following Russia''s invasion of Ukraine, reported by Bloomberg . "Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements," the bank said in an emailed statement. JPM said in a statement: "In compliance with directives by governments around the world, we have been actively unwinding Russian business and have not … Full story available on Benzinga.com

Goldman Sachs and JPMorgan Chase are folding up their businesses in Russia as Wall Street banks follow western companies in withdrawing because of Moscow’s invasion of Ukraine. Hundreds of concerns have already curtailed activities in Russia including tech groups, food suppliers, accounting firms and energy producers. Goldman on Thursday disclosed plans to pull out of the country. JPMorgan, the largest US bank by assets, followed hours later. Both said they were acting in compliance with government instructions. Goldman has had a presence in Russia since 1998. Despite its decades there, the country makes up a small fraction of Goldman’s $2.8tn in assets and liabilities, with the bank disclosing last month that its exposure to credit losses in Russia was $650mn and its total market exposure was $414mn as of December. The New-York based bank, which employs close to 100 people in Russia where it has offered investment banking services, did not give a timeframe for when it would complete the wind-down. “In compliance with directives by governments around the world, we have been actively unwinding Russian business and have not been pursuing any new business in Russia,” JP Morgan said. “Current activities are limited, including helping global clients address and closeout pre-existing obligations; managing their Russian-related risk; acting as a custodian to our clients; taking care of our employees,” the bank added.

Goldman Sachs Group is considering expanding its cryptocurrency-related services by offering clients bilateral cryptocurrency options. Clients that hold crypto-assets — such as hedge funds or bitcoin miners — will be able to personalize their trades in order to manage risks or increase yields under the bilateral options program. According to Bloomberg, in December, Goldman’s global […] The post Goldman Sachs is Trying to Increase Its Cryptocurrency Offerings appeared first on Crypto Economy .

"Leaving Is Not An Option" - Deutsche Bank CFO Defends Decision To Remain In Russia At this point, dozens, if not hundreds, of western multinationals have abandoned their business in Russia, some of them have walked away from assets worth billions of dollars . Just the other day, McDonald''s and Coca-Cola "temporarily" abandoned their own businesses in Russia (for the duration of the war). Starbucks and Pepsi have made similar moves. But amid reports about their heavy IT reliance on St. Petersburg (not to mention the German economy''s massive dependence on Germany natural gas and oil), German banking giant Deutsche Bank has decided to defend its decision to continue operating in Russia during the war. Speaking during a Thursday interview, DB CFO James von Moltke defended the bank''s decision to stay, saying it hinged on its duty of care to clients that still operates in the country. The decision comes as other major banks make moves to pull out of Russia, notably Goldman Sachs said Thursday that it was winding down its business in the country, while HSBC on Monday told employees to cease their dealings with Russian banks.

Goldman Sachs and JP Morgan yesterday became the first Wall Street heavyweights to pull out of Russia, following its invasion of neighbouring Ukraine.

MARIUPOL, Ukraine (AP) - A Russian airstrike on a Mariupol maternity hospital that killed three people brought condemnation on Moscow Thursday, with Ukrainian and Western officials branding it a war crime, while th e highest-level talks yet yielded no progress toward stopping the fighting. Emergency workers renewed efforts to get food and medical supplies into besieged cities and get traumatised civilians out. Ukrainian authorities said a child was among the dead in Wednesday''s airstrike in the vital southern port of Mariupol. Seventeen people were also wounded, including women waiting to give birth, doctors, and children buried in the rubble. Images of pregnant women covered in dust and blood dominated news reports in many countries and brought a new wave of horror over the two-week-old war sparked by Russia''s invasion, which has killed thousands of soldiers and civilians, shaken the foundations of European security and driven more than 2.3 million people from Ukraine. Ukrainian President Volodymyr Zelenskyy told Russian leaders that the invasion will backfire on them as their economy is strangled.

JPMorgan and Goldman Sachs are two of the American investment banks that have decided to wind down their Russian operations amid the invasion of Ukraine by Russia.

According to its latest annual report, the firm''s exposure to Russia stood at $650 million at the end of 2021, with the vast majority tied to claims by private actors and borrowers.

The Goldman Sachs Group is reportedly looking into expanding its crypto-related services by offering clients bilateral crypto options, according to people familiar with the matter. The post Goldman Sachs looking to expand its crypto-related services appeared first on CryptoSlate .

The following article, Wall Street Megabanks JP Morgan Chase and Goldman Sachs Pull Out of Russia , was first published on Big League Politics . The globalist elites are punishing Russia. Continue reading: Wall Street Megabanks JP Morgan Chase and Goldman Sachs Pull Out of Russia …

As Thursday draws to a close in Kyiv and in Moscow, here are the key developments of the day: No breakthrough came from the highest-level Ukraine-Russia meeting since fighting began . Ukrainian Foreign Minister Dmytro Kuleba and his Russian counterpart Sergey Lavrov reached no significant agreement in Antalya, Turkey, in the countries'' first cabinet-level meeting since the start of the invasion on Feb. 24. The toll of Russia''s attack on a maternity hospital in Mariupol becomes clearer . Ukrainian officials say three people died, including one child , and at least 17 people were wounded in Wednesday''s attack. Russian authorities claim the hospital was used as a paramilitary base. Russia''s Embassy in the U.K. claimed in a tweet that a pregnant beauty blogger "played" an injured victim for photos with "realistic makeup." Mariupol, meanwhile, remains under siege. These satellite images show the devastation . The U.S. still believes a no-fly zone over Ukraine could result in a larger war. Secretary of State Antony Blinken said either a full or limited no-fly zone would "almost certainly" lead to a direct confrontation between Russia and the U.S. and NATO.

Russia''s unilateral aggression in Ukraine has drawn the ire of people from all quarters. Condemning the action, Western nations have imposed sanctions against Russia, and several high-profile companies have ceased operating in the country in protest. Big banks were beginning to follow suit Thursday, with Goldman Sachs Group, Inc. (NYSE: GS ) and JPMorgan Chase & Co (NYSE: JPM ) announcing withdrawal from the Russian market. What Happened: Goldman said Thursday it would wind down its business in Russia "in compliance with regulatory and licensing agreement," according to multiple reports citing an email from the financial services giant. The company further said it would support its clients in managing or closing out pre-existing obligations in Russia. Goldman''s total credit exposure to Russia amounts to $650 million, with much of that to non-sovereign counterparties or borrowers, the company said in its 10-K filed with the SEC. Hours later, JPMorgan made a similar move. “In compliance with directives by governments around the world, we have been actively unwinding Russian business …

The finance-industry titans are joining the likes of McDonald’s and Coca-Cola in halting business operations in Russia as the death toll rises in Ukraine and millions of refugees flee. By Hannah Levitt and Sridhar NatarajanBloomberg Published On 10 Mar 202210 Mar 2022 JPMorgan Chase & Co. joined Goldman Sachs Group Inc. in pulling back from Russia …