Nearly 270,000 people applied for 8,300 Goldman Sachs jobs in 2014.
And yet it’s the only bank to beat analysts’ expectations for profit and revenue.
The chief of the world’s most powerful investment bank worries about the fate of labor in an economy tilted towards the already-wealthy.
Being named partner at Goldman Sachs means a $900,000 salary, before bonuses. It also means you’re on track to the highest circles of the financial and corporate elite.
The British comic is a reliable left-of-center critic of Wall Street. But on the subject of support for armed forces veterans, there’s little sunlight between them.
A Goldman executive familiar with the matter said that the strange, violent market movements on Wednesday led to the most activity ever on some desks with Goldman’s clients.
The investment bank’s revenue grew 25% while its profits jumped 48% amidst markets finally starting to become more volatile (and dangerous).
Investment bankers will no longer be able to trade individual stock and bonds.
But the bank’s core trading and sales business still shrank in revenue, fulfilling a warning made by the firm in May.
Despite the best investment banking quarter since 2007, Goldman’s revenue and profits for the first quarter of this year fell 8% from a year ago.
Bankers, investors and industrial CEOs are not at all happy about this.
Goldman Sachs, led by Chief Executive Lloyd Blankfein, posted another blowout quarter, earning $1.93 billion, or $3.70 per share, for the three months ended June 30. Analysts were expecting the bank to earn $2.88 per share.