businessinsider.com
Wall Street has been hopeful that M&A activity will return this year as rates fall. But JPMorgan CEO Jamie Dimon and CFO Jeremy Barnum offered reasons the banking industry’s confidence may be premature during the firm’s first-quarter earnings presentation on Friday.JPMorgan is America’s biggest bank by assets, and its earnings are closely watched as an indicator of where the economy and dealmaking are headed. On Friday, the bank reported $41.9 billion in revenue for the quarter, up 9% year-over-…
20 days ago
businessinsider.com
For a senior Wall Street executive, the Goldman Sachs partner Brian Robinson has a curious habit: When it’s time to go to sleep, his phone never enters his bedroom — at night, it stays charging in the kitchen.Wall Street — where Goldman is considered a standard bearer — is notorious for its intense work culture. During the pandemic, the storied firm was forced to defend itself over accusations of overworking its junior bankers. But Robinson insists that keeping himself or his staff burning the m…
27 days ago
businessinsider.com
As Goldman Sachs battles a vortex of internal and external speculation about career pathways for women, the venerated Wall Street bank has been forced into damage-control mode.In a 12-point internal memo obtained by Business Insider, Goldman Sachs’ chief of staff, Russell Horwitz, admitted that the firm hasn’t gone far enough to advance the careers of its female employees. Horwitz also encouraged senior staffers to lean on a special “briefing toolkit” to reassure concerned clients about the bank…
about 1 month ago
businessinsider.com
Wall Street experienced a big shakeup on Monday when two big banks announced new leaders for their investment-banking units.Citigroup kicked off the flurry when it announced that it had poached Viswas Raghavan, JPMorgan’s top dealmaker, to lead Citi’s global banking franchise and serve as executive vice chair. Citi’s hire comes just weeks after JPMorgan promoted Raghavan to the sole head of its deals business, forcing America’s biggest bank by assets to regroup.The Jamie Dimon-led JPMorgan tappe…
2 months ago
businessinsider.com
The 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.The latest consternation appears to do with who’s been named to coveted seats on one of two new committees within the global banking and markets division. According to a Financial Times report on Wednesday, two top GS bankers were noticeably left off the IB committee, which doesn’t wield the same powers or influence as the bank’s…
2 months ago
businessinsider.com
Things are looking up for David Solomon.The CEO of Goldman Sachs saw his compensation rise by 24% over last year, when he faced a 30% cut in pay amid a retreat in his consumer banking ambitions.The chief executive of the prestigious Wall Street bank earned $31 million for 2023, composed of a $2 million base salary and $29 million discretionary bonus, the company said in a regulatory filing. Of that bonus, $20.3 million, or roughly 70%, will be awarded in stock, with a remaining cash bonus portio…
3 months ago
businessinsider.com
No one expected an anonymous Instagram account to send the global banking powerhouse Goldman Sachs into panic mode.But on March 17, 2021, that’s exactly what happened.The Instagram meme account Litquidity published a slide deck produced by 13 Goldman Sachs investment-banking analysts. In the presentation, the entry-level bankers described the isolation of working during the COVID-19 pandemic, when they were busier than ever thanks to a mergers-and-acquisitions boom. “The sleep deprivation, the t…
3 months ago
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Hundreds of Goldman Sachs partners from New York to London gathered in Miami on Tuesday for the second day of their annual partners confab, but the vibe differed from when the investment bank’s upper echelons last graced the Magic City.As in February 2023, Goldman’s partners once again convened at the Miami Beach Edition hotel on Collins Avenue, where the rooms go for $800+ a night. Some attendees — members of its roughly 400-person partnership class, which represents the bank’s politburo of top…
3 months ago
businessinsider.com
Goldman Sachs on Monday said that Jim Esposito, one of the bank’s three co-heads of global banking and markets and a potential CEO contender, would be stepping down.In an email to partners and clients viewed by Business Insider, the 56-year-old reflected on his nearly three decades at the bank and expressed a desire to look to the next chapter of his career. He said he’s developed a sense of restlessness and suggested he’s leaving because he’s eager for a change of pace.“Year-end is a time for r…
3 months ago
businessinsider.com
Carlyle, the Washington, DC-based alternative asset manager which manages some $382 billion in assets, this week announced that it would install a new chief human resources officer.Jennifer Barker, a partner who’s been with Carlyle since 2016 and presently serves as the firm’s head of international human resources, will step into the role of chief human resources, taking over for Bruce Larson, formerly a senior human-capital executive at Goldman Sachs who joined Carlyle in 2019, according to a C…
3 months ago
businessinsider.com
Hollywood endured a challenging year in 2023. Writers’ and actors’ strikes all but shut down the industry and cost the California and New York economies billions. Pressures in the ad market led to tens of thousands of job losses. Young people in the entertainment industry vented that their career growth was stymied by forces outside of their control.But rather than wringing their hands in dismay, many of Hollywood’s early-career professionals are eager to get back on their feet.One powerful reso…
4 months ago
