Blankfein’s pay rise an ominous sign for UK
With big banks in Britain competing head-to-head with their Wall Street counterparts, there is little chance of their boards opting to trim the pay of CEOs or bankers
ARCHIVED
Goldman Sachs
Resources
The Wall Street bank has faced intense public and political criticism this year for its part in creating the credit bubble and then being seen to profit from its implosion
More in this section
Goldman invests $70m in UK software group
The US bank buys a minority stake in AppSense, a Cheshire-based software group, as it makes a bet on growth in technology that helps people to work while on the move
Goldman winds down proprietary trading arm
Goldman Sachs plans to wind down its eight-person Global Macro Proprietary Trading arm to comply with new US rules restricting large banks from placing bets with its own capital
Tourre to argue US cannot try him for fraud
Fabrice Tourre, the Goldman Sachs banker facing civil fraud charges, will ask a judge to dismiss the regulator’s lawsuit, arguing that the case involves foreign investors
Goldman’s plan hit by asset price rises
Goldman’s attempt to spend some of its $170bn excess capital on distressed assets is being hampered by a prolonged rebound in risk appetite
Blankfein awarded $12.6m in shares
Goldman Sachs awarded its chief executive, Lloyd Blankfein, $12.6m in restricted stock and more than trebled his annual salary, in a sign the public backlash against the bank’s pay practices may have waned
Related content and features
Video
More FT video
More comment and analysis
Goldman’s self-improvement plan is likely to falter
Goldman Sachs’s decision to unveil a long-awaited set of internal reforms to respond to its critics last week has inspired the author to enter an introspection period
Goldman’s pieties go too far
A refashioned Wall Street of specialist boutiques would be healthier for customers. They might also be small enough to fail, writes Sebastian Mallaby
Alarm bells must ring when banks welcome regulation
Until authorities flesh out the new financial law with detailed regulations, the rule of thumb has to be: beware of bankers bearing PR gifts and easily giving up businesses they once loved, writes Francesco Guerrera
A damp squid
After one-off costs have been stripped out, the bank’s return on equity was still only 9.5 per cent. Returns over the previous four quarters averaged nearly 25 per cent
Derivatives: A tricky pick
By orchestrating securities against which hedge funds could bet, Wall Street banks brought discord to their dealings with clients who became the buyers
Goldman ready for gloves-off offensive
Goldman Sachs followed up on last week’s civil fraud charges brought by the Securities and Exchange Commission with the news that Fabrice Tourre, the 31-year-old banker at the centre of the complaint, as well as chief executive Lloyd Blankfein, would testify before a Senate hearing next week
FSA exposes hole in Goldman’s dented armour
For those who thought the investment bank had distilled the art of meticulous self-regulation, the control failings identified by the FSA will come as a shock
Goldman Sachs needs to change
Goldman Sachs escaped lightly in its settlement with US regulators this week. Having been accused of fraud, it admitted only a ‘mistake’ and paid a record-breaking $550m in fines and compensation
Goldman battles to save state links
Goldman Sachs has written to the European government affairs departments of rival banks, assuring them that the fraud charges filed against it last week by the US Securities Exchange Commission are “unfounded”
More stories
