By Paul M. Barrett April 22 (Bloomberg BusinessWeek) -- ? "There is no firm that can step in and replace them," says bank analyst Richard Bove On Apr. 16 the Securities & Exchange Commission sued Goldman Sachs (GS) for misleading a client about an esoteric investment tied to home mortgages. In denying the allegations, Goldman was defiant, insisting it had told its customer, the German bank IKB, all it needed to know. IKB could fend for itself, according to
The New York Stock Exchange’s plan to lure more stock orders from individuals was approved by the U.S. Securities and Exchange Commission, dealing a setback to Wall Street firms that increasingly keep the business for themselves.
Goldman Sachs Group Inc. plans to start a private real estate investment trust with as much as 50 billion yen ($628 million) that will invest in Japan’s property market, two people familiar with the situation said.
Goldman Sachs Group Inc. delayed its first sale of Samurai bonds in four years after Moody’s Investors Service placed the bank under review for downgrade, according to a person with direct knowledge of the matter.
Goldman Sachs Group Inc. is on its way to taking the top spot among advisers on Japanese takeovers for the first time in five years, supplanting Nomura Holdings Inc., as companies striving to compete globally turn increasingly to foreign investment banks.
Foreign banks in Japan may resume hiring this year to advise local clients taking advantage of the stronger yen to acquire companies abroad, while cutting jobs for other investment banking services, a recruitment firm said.