|Bid||19.18 x 800|
|Ask||19.21 x 1200|
|Day's Range||19.16 - 19.31|
|52 Week Range||16.45 - 23.97|
|Beta (3Y Monthly)||0.53|
|PE Ratio (TTM)||0.80|
|Forward Dividend & Yield||0.94 (4.72%)|
|1y Target Est||N/A|
Goldman Sachs makes a deal to by boutique wealth management first United Capital for $750 million. This is an effort to ramp up its retail client base. Yahoo Finance's Seana Smith and Brian Cheung discuss.
United Capital’s founder says the $750 million acquisition by a Wall Street institution isn’t a sellout but rather the next step in transforming the wealth management landscape.
The U.S. Department of Justice handed over to Ng's lawyers a "small subset" of more than 1 million documents the government is relying on to prosecute the case, said Assistant United States Attorney Drew Rolle during a hearing at a Brooklyn federal court. The United States accused 46-year-old Ng last year of conspiring to launder money and bribe government officials in Malaysia and Abu Dhabi through bond offerings that Goldman Sachs Group Inc handled. Ng pleaded not guilty to the charges on May 6 and was released in exchange for a $20 million bond.
Former Goldman Sachs Group Inc banker Roger Ng is unlikely to get a plea deal this week on criminal charges linked to a multibillion-dollar scandal at the Malaysian state investment fund 1MDB, both sides told Reuters on Thursday. Plea negotiations are not yet on the agenda, a lawyer for Ng and a spokesman for the U.S. Department of Justice said. Instead, they plan to only discuss scheduling for case proceedings at a Brooklyn federal court.
Goldman Sachs’s credit traders had positioned themselves through a default-swaps wager that would have benefited if Weatherford managed to avoid near-term death, even if its longer-term prospects remained bleak, according to people with knowledge of the matter. The trade is notable for its sudden collapse and is likely to rank among the duds this quarter for the leveraged-finance trading team led by Tom Malafronte. In this case, the desk was selling short-dated credit swaps contracts, expecting Weatherford to avoid default over the next year while purchasing longer-term derivatives that would still benefit from an eventual collapse for the oilfield services provider.
It was 2016 and Goldman Sachs Group Inc. decided the time was right to pump money into a Sao Paulo startup looking to reinvent the country’s financial industry, starting with zero-fee credit cards. The venture, now widely known in Brazil as Nubank, for Nu Pagamentos SA, has reached 8.5 million consumers and sold private shares in itself with a $3.6 billion valuation. If it keeps expanding at its current rate, it will soon become the fourth-biggest card issuer in Latin America’s largest economy, and it’s starting to expand abroad.
FT premium subscribers can click here to receive Due Diligence every day by email. Few on Wall Street or in Silicon Valley believe the battle between Morgan Stanley and Goldman Sachs will shake out the same way in one category. The next three banks — Bank of America, Allen & Co and Citigroup — earned less than a third of their bounty, according to data provider Refinitiv.
Goldman Sachs and Morgan Stanley have distinct ways of doing business, with one focusing on high rewards and the other on caution.
Paint and coatings stocks have retreated toward support amid trade tariffs and margin pressure. Brush up on three trading ideas to play a rebound.
Morgan Stanley, Goldman Sachs and JPMorgan Chase have a vice-like grip on advising top technology companies. After Uber and Lyft’s weak initial public offerings, rival banks are hoping for some market disruption. “The quality of deal execution is being called into question more, by both corporates and VCs [venture capital firms],” said David Hermer, head of equity capital markets at Credit Suisse, noting that a “small number of banks have a disproportionate share of leadership roles in technology IPO”.
There are a few reasons why Goldman Sachs will not touch Deutsche Bank with a 10- foot pole. First, and foremost, Deutsche Bank does not meet the capital requirement required by US regulators as its leverage ratio is well below the 5 per cent minimum as against 8.5 per cent for Goldman Sachs. This thin sliver of capital is meant to be a backstop for the risk in €1.4tn of total assets, three times Goldman’s exposure.
FT premium subscribers can click here to receive Due Diligence every day by email. One thing to start: DD has teamed up with Murad Ahmed, sports correspondent, to launch the FT Business of Football summit. The inaugural event is today at Claridge’s in London.
The transaction is expected to close in the second half of this year, PAI Partners said in a statement on Monday, without providing any financial details. Goldman Sachs is doing the deal through its merchant banking division, according to the statement. The announcement confirms a Bloomberg News report last week that the Paris-based private equity firm was close to a deal to sell the hotel chain for about 2 billion euros ($2.2 billion) to the lender, citing people familiar with the matter.
Goldman Sachs is in talks to buy B&B Hotels from private equity firm PAI Partners, the companies said on Monday, in a deal which an earlier report from the Financial Times said could be worth 1.9 billion ...
Goldman Sachs is in exclusive talks to buy European budget hotel chain B&B Hotels from private equity group PAI Partners for nearly €2 billion. The US bank’s merchant banking division, which handles its private equity transactions, is in negotiations to buy the chain of nearly 500 budget hotels, both firms said on Monday. The proposed transaction’s value of €1.9 billion would leave PAI with a return of close to three times its initial investment, a person familiar with the deal said.
The U.S. bank is acting as stabilization agent for mall owner Arabian Centres, which is expected to start trading this week after completing the kingdom’s biggest initial public offering since 2015. Goldman Sachs may sell additional shares or take other actions to support the Arabian Centres shares once they list. The mall owner allocated an extra 12.8 million shares, or 13.5% of the offering, to the bank, according to a statement from the Capital Market Authority.
Deutsche Bank has long liked to see itself as Europe’s answer to Goldman Sachs. Deutsche has been under increased scrutiny of late, as it has struggled with a share price slump, higher funding costs and a succession of scandals. Despite widespread support for chief executive Christian Sewing and his efforts to boost performance, there is understandable scepticism that this bank — which made a 1.3 per cent return on tangible equity in the first quarter, a tenth the level of US rivals — can find its own way out of trouble.
Traditionally an investment bank, Goldman Sachs has been making the push into wealth management. In its latest move, GS closed a deal to acquire United Capital for $750 million on Thursday. United Capital founder and CEO Joe Duran told his story to Yahoo Finance on The Ticker
At that price, the Paris-based private equity firm will make a return of three times its initial investment, one of the people said, asking not to be identified because the deliberations are private. Goldman Sachs is doing the deal through its merchant banking division, which includes private equity deals, the people said. Representatives for PAI and Goldman Sachs declined to comment.
FT premium subscribers can click here to receive Due Diligence every day by email. The hedge fund industry is by and large divided between the haves and the have nots. Money tends to follow money. So while ...