Business Goldman Sachs said on Monday it has appointed Mazars to audit its European operations in a major coup for the Paris headquartered accounting firm. 20 May 2019 10:00PM Bookmark LONDON: Goldman Sachs said on Monday it has appointed Mazars to audit its European operations in a major coup for the Paris headquartered accounting firm.It will also be a welcome boost to British efforts to weaken the grip of PwC, EY, Deloitte and KPMG, known as the "Big Four" accounting firms, who dominate audits of top listed companies.A Mazars spokesman confirmed that it would be auditing Goldman's European business which are run out of Britain and Germany, referring all other questions to Goldman.Mazars is the eighth largest auditor by revenue fees in Britain.A spokeswoman for Goldman Sachs confirmed Mazars appointment and declined to comment further.The news was first reported by the Financial Times, which said that PwC will remain Goldman's group auditor.(Reporting by Huw Jones and Iain … [Read more...] about Goldman selects Mazars to audit European operations
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Goldman Sachs nears deal to buy United Capital
Business Goldman Sachs Group Inc is nearing a deal to buy boutique wealth management firm United Capital Financial Partners Inc for several hundred million dollars, a source told Reuters. 11 May 2019 05:35AM Bookmark REUTERS: Goldman Sachs Group Inc is nearing a deal to buy boutique wealth management firm United Capital Financial Partners Inc for several hundred million dollars, a source told Reuters.The deal would be Goldman's biggest since the financial crisis and could be announced as soon as Monday, the Wall Street Journal reported.Goldman Sachs declined to comment. United Capital did not immediately respond to Reuters' request for comment.United Capital is a California-based investment advisory firm with independent financial advisers based at around 90 offices in the United States managing roughly US$23 billion of clients' money.(Reporting by Arjun Panchadar in Bengaluru; Editing by Anil D'Silva and Jonathan Oatis) … [Read more...] about Goldman Sachs nears deal to buy United Capital
Ex-Goldman Sachs banker Ng pleads not guilty to 1MDB charges
NEW YORK: Former Goldman Sachs Group Inc banker Roger Ng pleaded not guilty to criminal charges linked to a multibillion-dollar scandal at the Malaysian state investment fund 1MDB in an appearance at federal court in New York on Monday (May 6).The US Department of Justice accused 46-year-old Ng last year of conspiring to launder money and bribe government officials in Malaysia and Abu Dhabi through bond offerings that Goldman Sachs handled. He was extradited on May 3 to New York from Kuala Lumpur, where he had been jailed since November.US Magistrate Judge Peggy Kuo, of US District Court in Brooklyn, New York, allowed Ng, a Philippines citizen, to be released in exchange for a US$20 million bond. He was fitted for an ankle bracelet, and will be staying at an undisclosed location in the New York City area that the court approved.His lawyer, Marc Agnifilo, said he convinced Ng to "come to the US and face the music" because it was evident that prosecutors were not … [Read more...] about Ex-Goldman Sachs banker Ng pleads not guilty to 1MDB charges
Singapore to send money from ex-Goldman banker back to Malaysia
SINGAPORE (BLOOMBERG) - Singaporean authorities are preparing to return about $35 million surrendered by former Goldman Sachs Group Inc banker Roger Ng and his family in connection with the 1Malaysia Development Berhad (1MDB) scandal to Malaysia, according to people familiar with the matter. A Singaporean court in recent weeks cleared the way for the funds to be repatriated, said the people, who asked not to be named discussing sensitive information. Singapore authorities didn't immediately reply to an e-mail seeking comments. Ng's lawyer didn't immediately respond to calls or an e-mail for comment. Ng faces charges in Malaysia and the US for his involvement in US$6.5 billion (S$8.86 billion) of bond sales that Goldman arranged for the troubled state fund 1MDB. The authorities in several countries, including the US, have alleged that much of the money raised was siphoned off to enrich politicians. Former Malaysian prime minister Najib Razak is currently standing trial on 1MDB-related … [Read more...] about Singapore to send money from ex-Goldman banker back to Malaysia
Uber takes IPO roadshow to New York as demand builds up
Technology Uber Technologies Inc CEO Dara Khosrowshahi and his top management team took the ride-hailing giant's investor roadshow for its initial public offering to New York on Tuesday, as demand for its shares already exceeded supply. 01 May 2019 04:26AM Bookmark NEW YORK: Uber Technologies Inc CEO Dara Khosrowshahi and his top management team took the ride-hailing giant's investor roadshow for its initial public offering to New York on Tuesday, as demand for its shares already exceeded supply.At a lunch presentation in the Mandarin Oriental Hotel overlooking New York's Central Park, where fusilli pasta and BLT club wraps were served to investors, Khosrowshahi said Uber's future was not as a ride-hailing company, but as a wide technology platform shaping logistics and transportation."Dara was very impressive, he did a good job articulating the story," said one of the investors who attended, who requested anonymity because the presentation was closed to the media.Uber is … [Read more...] about Uber takes IPO roadshow to New York as demand builds up