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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Goldman to Hedge its Relationship with Hedge Funds - Blankfein
[Photo: Goldman Trading Floor - by Stephen Wilkes / Fortune]
Goldman Sachs CEO Lloyd Blankfein would like to see his firm expand its roster of trading partners, saying that they’ve been spending too much time with hedge fund traders. Speaking on Bloomberg TV, Blankfein believes the 40% decline in revenues from trading bonds, currencies and commodities can, in part, be attributed to the bank being “disproportionately involved in trading kind of clients” - something that needs to be fixed.
Blankfein, however, prefaced his remarks with this observation: “In my 35 years doing this, there have been periods a lot longer than this period where we’ve underperformed only to outperform.” So, while analysts on the Street seem to be lining up against Goldman and CEO Blankfein, few will argue that the firm has a long history of findings solutions for ‘righting the ship’.