Trading at goldman sachs

Reuters filepix for illustration purpose only - A + A NEW YORK (May 18): The US is forcing Wall Street banks to embark on a systematic search through more than 100 personal mobile phones carried by top traders and dealmakers in the largest-ever probe into clandestine messaging on platforms such as WhatsApp. The Securities and Exchange Commission has been sending firms lists of key positions — in some cases pointing to around 30 people including heads of certain investment banking teams or trading desks — that are subject to the review, according to people with direct knowledge of the requests. Personnel in those roles are being ordered to hand over phones so devices can be examined by lawyers. The aim is to gauge how pervasively Wall Street professionals use unauthorized messaging platforms to chat with each other or clients as regulators decide which firms to punish, and how hard, for failing to preserve business-related messages sent via unapproved platforms. … [Read more...] about US pries into over 100 trader and banker phones in texting probe

- A + A HONG KONG (May 18): Smarting from HSBC Holdings Plc’s move to scrap its dividend during the height of the pandemic, the bank’s largely silent mass of retail shareholders in Hong Kong is warming up to the idea of a breakup. Splitting up Europe’s biggest bank to separate out its Asian operations is being pushed by its largest investor, Ping An Insurance Group Co, based just across the border in Shenzhen. The call is winning support in Hong Kong’s retail base, which owns about a third of the bank, with some seeing it as a surefire way of preventing the steady stream of payouts from being cut off again. Their loyalty has been tested as numerous pivots in strategy fail to impress the market, leaving dividends at half of what they were in 2018 and the stock down more than 40%. The former British colony is the beating heart of the bank’s global operations, accounting for about 30% of the group’s 2021 adjusted profits. Yet decisions such as the halting of dividends … [Read more...] about HSBC’s mass of Hong Kong retail investors warms to breakup

Shares of Citigroup ( C ) jumped 7% after Warren Buffett’s Berkshire Hathaway reported a nearly $3 billion stake in the bank. Berkshire revealed the investment along with others in its quarterly 13F filing . Citigroup’s shares were down 16% this year, trailing other big banks. The bank is in the middle of a turnaround led by new CEO Jane Fraser, who took over in March of last year following years of missed financial targets and regulatory controls. Citigroup announced plans to close its consumer banking operations in 13 markets including Australia, China, and Russia. Then in March, the bank unveiled a multi-year turnaround strategy that included financial targets and a 6% increase in expenses as the bank seeks to improve its internal controls. Berkshire unloaded the rest of its stake in Wells Fargo, and sold its stakes in JPMorgan Chase and Goldman Sachs in 2020. It still owns about $41 billion of Bank of America ( BAC ) shares, which is Berkshire’s second-largest holding … [Read more...] about Buffett’s Big Bet on Citigroup