Tag: Goldman Sachs

Corporate Talent Wars! Wall Street Banks Are Poaching Goldman Sachs Group’s AI Talent
29Nov By adminNo Comments
Technology

Corporate Talent Wars! Wall Street Banks Are Poaching Goldman Sachs Group’s AI Talent

[ad_1] For months, banks have been jockeying to lure the best AI talent to their ranks — and Goldman Sachs Group Inc. has been on the losing end of that fight.  The Wall Street giant has seen a net outflow of 60 people to rivals such as Morgan Stanley and Citigroup Inc. in the 12 months through September, the most of any of its biggest rivals, according to data compiled by the consultancy Evident. Bank of America, which is down 55 staffers, suffered the second-biggest exodus, while Wells Fargo & Co. had the biggest net increase with 130 people. “It's not just about hiring people, but nurturing and retaining them,” Alexandra Mousavizadeh, Evident's chief executive officer, said in an interview. “They have a lot of other places to go.” While the departures represent a small amount of ...
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BlackRock, Worldcoin, Ripple: Bitcoin Bull Mike Novogratz Dishes on Crypto
30Jul By adminNo Comments
Technology

BlackRock, Worldcoin, Ripple: Bitcoin Bull Mike Novogratz Dishes on Crypto

[ad_1] As Bitcoin roars back after a year of crypto industry scandals and losses, Mike Novogratz says one man in particular gives him reason to stay bullish.“The most important thing that happened this year in Bitcoin is Larry Fink,” Novogratz said, referring to the investment titan who is chief executive officer at BlackRock Inc., the world's biggest asset manager. BlackRock thrilled the crypto community in June when it applied to launch an exchange-traded fund to track the spot price of Bitcoin — a move that, if approved, could potentially spark a new wave of investment in the cryptocurrency. But it was Fink's seeming conversion from crypto skeptic to Bitcoin believer — he now considers it an “international asset” — that really has Novogratz excited. “He got ‘orange-pilled,' as we say...
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Goldman Sachs is in talks to exit Apple Partnership, WSJ says
1Jul By adminNo Comments
Technology

Goldman Sachs is in talks to exit Apple Partnership, WSJ says

[ad_1] Goldman Sachs Group Inc. is considering exiting its partnership with Apple Inc., according to the Wall Street Journal, severing a relationship that helped vault the iPhone maker into the finance world.The bank is in talks with American Express Co. to take over the Apple credit card and other services that the companies offer together, said the newspaper, citing unidentified people familiar with the situation. Apple is aware of the talks, which have been going on for months, according to the Journal. The tech company would have to agree to a transfer. Apple's push into financial offerings — with Goldman Sachs' help — is part of a broader effort to generate more revenue from services. The tech giant got about 20% of its sales from that category last year, up from less than 10% a de...
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Goldman Sachs says Paytm’s offline payments leadership could drive device rental revenue
22Apr By adminNo Comments
Technology

Goldman Sachs says Paytm’s offline payments leadership could drive device rental revenue

[ad_1] Paytm, India's mobile payments and QR code pioneer, is expected to report robust for January-March 2023 earnings, with revenue growth of 49% YoY, and the second consecutive quarter of positive margins, Goldman Sachs said in a recent report. The foreign brokerage has maintained its 'buy' rating and 12-month target price at ₹1,150 apiece, implying a potential rally of 78% from current market price."We see the improving profitability as a meaningful catalyst for the stock, and expect Paytm to be net income profitable in FY25E," analysts at Goldman Sachs noted. It added that Including income on Paytm's ₹80 bn of current cash balance, it expects Mar ‘23 quarter to also be FCF profitable (after accounting for device capex). “We have further raised our FY23E-25E adjusted EBITDA estima...
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Banks Are Right to Clamp Down on Office ChatGPT
27Feb By adminNo Comments
Technology

Banks Are Right to Clamp Down on Office ChatGPT

[ad_1] ChatGPT. OK, it's cool, but what is it for? This is the question I'd be asking if I were a banking executive. Oh, and of course: What are the risks of using it?There is huge excitement about this bright new toy, but what it mainly does is produce content on demand that is distilled from information picked up off the internet. To my mind, what makes it smart is its ability to produce language that sounds like a convincing voice, not the substance of what it is telling you. So why are banks banning it inside their businesses? The answer is in what bankers might use it for. Bank of America Corp. and Goldman Sachs Group Inc. have joined JPMorgan Chase & Co. in telling staff they mustn't use it for business purposes. Those business purposes could be to generate a draft of a pitch...
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Money, Tech, Recession: The World According to a Goldman Intern
13Oct By adminNo Comments
Technology

Money, Tech, Recession: The World According to a Goldman Intern

[ad_1] Goldman Sachs Group Inc.’s interns overwhelmingly expect the US economy to fall into recession. Goldman Sachs Group Inc.'s interns overwhelmingly expect the US economy to fall into recession, and see climate change as among the most pressing issues of the coming decade, a survey shows. Of the 2,470 summer interns who completed the annual survey, 86% expect a recession, the Wall Street giant said Wednesday on its website. Those surveyed identified climate change, artificial intelligence and geopolitical tensions as the most urgent issues to be faced over the next 10 years. Amid a surge in digital banking and currencies, 47% of surveyed interns reported using phone-based payments, while only 2% reported using cash. Despite the popularity of digital assets and services, 99% o...
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IIT Alums Became Friends On Wall Street. Then One Turned On The Other.
25Aug By adminNo Comments
Business

IIT Alums Became Friends On Wall Street. Then One Turned On The Other.

[ad_1] Former Goldman banker Brijesh Goel was arrested last month for insider tradingThey were business school buddies who landed at top Wall Street firms -- Goldman Sachs Group Inc. and Barclays Plc -- lived for a time in the same Manhattan high-rise, played squash regularly and partied overseas together.And then one of them wore a wire and recorded his friend allegedly asking him to delete incriminating text messages.Former Goldman banker Brijesh Goel was arrested last month for insider trading. His friend, ex-Barclays trader Akshay Niranjan, is "co-conspirator 1" in the criminal complaint against Goel, and the man who turned on his buddy, according to people familiar with the matter."F---... This we need to delete," Goel, 37, allegedly said in a conversation Niranjan, 33, recorded. "D...
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