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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
Trading Boosts Goldman Sachs Blowout Quarter
[Photo: Goldman Trading Room, by Stephen Wilkes for Fortune]
Happy Days Are Here Again ....
Goldman Sachs reported a blow-out final quarter of 2016 on Wednesday, nearly quadrupling its profit on huge gains in trading in post-election markets. The bank’s Q4 earnings of $2.35 billion featured a 78% gain in bond, currency, and commodity trading compared to one year ago – vastly exceeding analyst expectations.
Average Goldman Sachs compensation was around $339,000, down about 8% from the same period in 2015. Compare that to 2007, when compensation was at an all-time high average of $569,000.
Up until the final quarter, returns for Goldman Sachs had been poor-to-middling.
“After a challenging first half, the firm performed well for the remainder of the year as the operating environment improved,” Blankfein said in a statement.