Goldman Sachs Group (the) Stock News

Morgan Stanley Finally Acknowledges DoJ "Block Trading" Probe Given the wealth of information that has already been leaked (likely by the DoJ & SEC) about the "block trading" investigation, Morgan Stanley''s official disclosure of the investigation in its Annual Report (released Thursday) seemed almost comically brief. For instance, the Street already knows the name of the top Morgan Stanley banker involved: Pawan Passi, once the head of the bank''s equity syndicate desk - he has supposedly been "on leave" from the bank since November. That was reported by Bloomberg, and both BBG and WSJ have reported a the names of some of the other bankers involved, as well as some of the key buy-side clients (including one Citadel-controlled fund). They include: Andrew Liebeskind at Citadel’s Surveyor Capital and Jon Dorfman at Element Capital Management. Felipe Portillo, a risk executive within Credit Suisse’s equity capital markets group, Michael Daum, a partner at Goldman and Michael Lewis, the head of US equities cash trading at Barclays (and a former Morgan Stanley banker until 2018).

The trial of a former Goldman Sachs banker accused in a massive international swindle has hit a snag with prosecutors’ admission that emails and other documents were mistakenly withheld from defense

NEW YORK (AP) — The trial of a former Goldman Sachs banker accused in a massive international swindle has hit…

Goldman Sachs Group Inc. is considering tactics such as vested stock clawbacks as an incentive for bankers to stay at the firm, according to a report by Bloomberg. The bank may confiscate vested stock in a move typically used for cases of misconduct as way to convince talent to remain at the firm, the report said. The bank may do this to two bankers that left the firm last year, Omer Ismail and David Stark. "Equity awards are governed by the agreement signed by the recipient," spokesperson for the bank said, as reported separately by Reuters. "In each case mentioned by Bloomberg, there were explicit terms which were upheld." Two other ex-Goldman bankers, Gregg Lemkau and Eric Lane, are getting their unvested compensation pulled, the report said. Goldman appears to be using both the carrot and the stick methods to retain bankers as financial service companies compete to keep their talent in house. For the carrot, banks are hiking pay. Goldman''s stock clawbacks would fall into the stick bucket by reducing pay for executives that leave.

Financial stocks suffered a broad beating Thursday, as Russia''s invasion of Ukraine sparked a flight to safety that sent Treasury prices higher and yields lower. The SPDR Financial Select Sector ETF sank 3.8% in premarket trading toward a five-month low, with only one of 67 equity components gaining ground, while futures for the S&P 500 dove 2.6% toward a nine-month low. Among the ETF''s more-active components, shares of Bank of America Corp. dropped 5.1%, Wells Fargo & Co. slid 4.8%, Citigroup Inc. shed 5.1%, J.P. Morgan Chase & Co. fell 4.0%, Goldman Sachs Group Inc. lost 4.0% and Warren Buffett''s Berkshire Hathaway Inc. declined 2.8%. The lone gainer in the ETF was CBOE Global Markets Inc.''s stock , which rose 3.0% as the invasion was seen as boosting market volatility. Meanwhile, the yield on the 10-year Treasury note slumped 11 basis points to 1.866%. Falling longer-term interest rates can crimp bank earnings, as it narrows the spread banks earn on longer-term assets, such as loans, that are funded by shorter-term liabilities.

Tim Leissner was supposed to be the US government’s star witness in the bribery case against Roger Ng, the only Goldman Sachs banker to go to trial in the multibillion-dollar 1MDB scandal.Instead, a misstep over crucial evidence about Leissner could end up tanking the case, after the US disclosed that it failed to turn over to the defence more than 15,500 documents related to him.On Wednesday the judge said she would pause the trial to give the defence time to review the newly disclosed…

Prosecutors in a case involving a former Goldman Sachs executive and a Malaysian fund found 15,000 emails and other documents they need to turn over.

NEW YORK, Feb 24 — The trial of a former Goldman Sachs banker accused of helping loot Malaysia’s 1MDB sovereign wealth fund will be paused due to late disclosure of some evidence by prosecutors to the defense, the judge in the case ruled on…

NEW YORK — The trial of a former Goldman Sachs banker accused of helping loot Malaysia’s 1MDB sovereign wealth fund will be paused due to late disclosure of some evidence by prosecutors to the defense, the judge in the case ruled on Wednesday. Roger Ng, Goldman’s former head of investment banking in Malaysia, has pleaded […]

Someone with a lot of money to spend has taken a bullish stance on Goldman Sachs Group (NYSE: GS ). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga. Whether this is an institution or just a wealthy individual, we don''t know. But when something this big happens with GS, it often means somebody knows something is about to happen. So how do we know what this whale just did? Today, Benzinga ''s options scanner spotted 13 uncommon options trades for Goldman Sachs Group. This isn''t normal. The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish. Out of all of the special options we uncovered, 9 are Full story available on Benzinga.com

While Wall Street banks have been raising bankers'' pay in an effort to hold onto talent. Now at least one bank is considering a stick in addition to the carrot

For decades, Goldman Sachs has cultivated close ties with departing executives, nurturing the corporate world''s most powerful alumni network.

Goldman Sachs wants to claw back bonuses from executives who leave the investment banking giant as it scrambles to stem a tide of high-profile departures, according to a new report. When one of the companys young stars, 42-year-old Omer Ismail, left with one of his deputies to run a Walmart-backed startup, Goldman CEO David Solomon

When Nene Parsotam was commissioned by Goldman Sachs to art-direct the Innovators In STEAM (Sciences, Technology, Engineering, Arts and Mathematics) photo series for Black History Month, she found the perfect opportunity to showcase emerging Black talent in the tech field. "The innovators were from wearable tech, architecture, tech in music and AI," the London-based art

Goldman Sachs is looking at confiscating vested stock of executives Omer Ismail and David Stark, a Bloomberg News report said. Both had left the Wall Street bank last year