Monday, May 2, 2011

Is Goldman Sachs No Longer the Best Firm on Wall Street?

I was alerted to an article about how Goldman Sachs has fallen back to the rest of the bulge bracket.  William Cohan has a new book:  Money and Power:  How Goldman Sachs Came to Rule the World.  Some evidence of  this are:

  • Fixed Income, Currencies and Commodities business was down 28% in the latest quarter
  • Losing the best employees to smaller firms out of the regulatory spotlight
  • Bonus pool is smaller
  • Mergers and Acquisitions has fallen to number 2 behind JP Morgan after the first quarter
  • Public relations missteps - AIG bailout, CDOs created for Paulson & Company and Facebook transaction

No comments:

Post a Comment