PETALING JAYA: Investigators in Singapore and the US have zeroed in on a 2012 lunch meeting between two Goldman Sachs Group Inc bankers, wanted businessperson Jho Low, a 1MDB official, and six executives from a Swiss bank. Bloomberg today reported that former Goldman employees Roger Ng and Time Leissner were said to have explained a US$1.75 billion (RM7 billion) bonds offering to the Swiss banking executives during that meeting which took place in a Singapore restaurant. It quoted sources familiar with the matter as saying investigators are looking more closely at the roles of Ng and Leissner. They want to determine how US$577 million (RM2 billion) in proceeds from a bond sale in May 2012 ended up a day later in an account at BSI SA in Switzerland – the same bank the six executives were from. … [Read more...] about Investigators zoom in on Goldman Sachs Group lunch with 1MDB official
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Goldman Sachs buys personal finance start-up Clarity Money
Business Goldman Sachs Group Inc bought Clarity Money, a personal finance startup, to bolster its Marcus online lending business, it said Sunday. 16 Apr 2018 06:15AM Bookmark NEW YORK: Goldman Sachs Group Inc bought Clarity Money, a personal finance startup, to bolster its Marcus online lending business, it said Sunday.Buying Clarity Money, a free app that helps consumers manage their personal finances, is expected to add over 1 million customers to the financial service firm's Marcus business. Marcus offers tools to help customers save and borrow. Clarity Money will be re-branded as Marcus by Goldman Sachs over time, the company said.Terms were not disclosed.Goldman launched Marcus in October 2016 as a way to court Main Street borrowers saddled with credit card debt. It offers loans from US$3,500 to US$30,000 and targets credit card borrowers who can benefit from consolidating debt into a single loan with a lower interest rate.GS Bank, a subsidiary of Goldman Sachs, is … [Read more...] about Goldman Sachs buys personal finance start-up Clarity Money
US judge certifies Goldman Sachs gender bias class action
Business A federal judge ruled that women accusing Goldman Sachs Group Inc of discriminating against them in pay, promotions and performance reviews may pursue their claims as a group in a class-action lawsuit. 31 Mar 2018 09:50AM Bookmark NEW YORK: A federal judge ruled that women accusing Goldman Sachs Group Inc of discriminating against them in pay, promotions and performance reviews may pursue their claims as a group in a class-action lawsuit.The decision late Friday afternoon by U.S. District Judge Analisa Torres in Manhattan covers female associates and vice presidents who have worked in Goldman's investment banking, investment management and securities divisions since September 2004, and employees in New York City since July 2002.Goldman was accused of systematically paying women less than men, and giving them weaker performance reviews that impeded their career growth.Class certification can help plaintiffs achieve greater awards at lower costs than if they sued … [Read more...] about US judge certifies Goldman Sachs gender bias class action
Gender pay gap in English Premier League soccer is bigger than HSBC or Goldman Sachs
By David Hellier Bloomberg Thu., March 29, 2018 Soccer players’ multimillion-pound salaries have made the male-female pay gap at England’s Premier League clubs the biggest in the U.K., even larger than the disparity at banks HSBC Holdings Plc and Goldman Sachs Group Inc. Manchester City, the runaway leader on the field, said women earn 88 per cent less than men on an hourly basis. That’s one of the biggest differences yet disclosed under new U.K. regulations requiring large employers to publish the gap between male and female pay. Other clubs, including Arsenal, Liverpool and Everton, posted similarly large disparities, with Burnley slightly surpassing Manchester City’s figure. Manchester City, in a move copied by other teams, said that if the first-team players and senior coaching staff are excluded, the gap comes down to 16 per cent, which is below the national average of 17.4 per cent. Read more: Opinion | Jennifer Wells: Enough talk about … [Read more...] about Gender pay gap in English Premier League soccer is bigger than HSBC or Goldman Sachs
Goldman Sachs’ stock-based pay ratio still much higher than rivals’
BOSTON: Goldman Sachs Group Inc pays employees a much bigger portion in stock than Wall Street rivals, a trend that has come into sharper focus as the bank overhauls its business strategy.Goldman’s “burn rate” – the proportion of outstanding stock used to pay everyone from Chief Executive Officer Lloyd Blankfein to rank-and-file workers – averaged 3 percent over the past three years, the bank said on Friday in its annual proxy filing with the U.S. Securities and Exchange Commission.That three-year burn rate compares with 0.64 percent recently reported by Citigroup Inc , and 1.82 percent at financial companies in the S&P 500, according to proxy adviser Institutional Shareholder Services (ISS).Big investors take notice of a burn rate because it measures how much value a company transfers to executives, said John Roe, head of ISS’s data arm."The faster the company is diluting shareholders, the harder the company has to work just to get up to … [Read more...] about Goldman Sachs’ stock-based pay ratio still much higher than rivals’