Goldman Sachs

  • 16 Jan 2014 at 2:06 PM

Reach Of Gary Cohn Extends To Silent Monastery

Over at Fortune today you will find a story about Marty Chavez, a Goldman Sachs partner who rejoined the firm 2005 after leaving for several years to found a business, sell it, and retire to Fire Island. Chavez would’ve been content to live out his life on the beach but one day, this happened:

…he got a call from now-president Gary Cohn, then co-head of global securities. “I heard you sold your company — congratulations,” Chavez recalls him saying. “I heard you retired. That’s ridiculous. I was just calling to share with you that you’re coming back.” When Chavez told him he was burned out on commodities, Cohn suggested investment banking. Chavez didn’t know the first thing about banking, but Cohn was insistent.

Generally, when Gary Cohn talks, you listen. He doesn’t call to offer you a job, he calls to tell you you’re taking it. He doesn’t give you time to think things over, he sticks his grundle in your face and asks “What’s there to think about?” In this case, however, he knew a more subtle touch was necessary. Read more »

Like Bank of America, JP Morgan, and Goldman Sachs before it, Credit Suisse announced this week that analysts and associates will have some semblance of a weekend, moving forward. Unlike JP Morgan’s monthly “protected” weekend and BofA’s “take the number of UNAUTHORIZED weekend days you were previously working and cut it in half,” Credit Suisse has chosen to adopt the Goldman Sachs 36-hour weekend model, unless of course urgent work needs to be done, in which case, consider your ass glued to that desk. Read more »

  • 13 Jan 2014 at 4:31 PM

Bonus Watch ’14: Everyone

Pay predictions for Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, RBS, UBS. Read more »

Maybe you’ve been toiling away on Wall Street for 10-15 years but have never earned one ounce of respect. Maybe you’ve been on the job for a matter of months, and have yet to be given more responsibility than picking up your boss’s lunch (a job that you came perilously close to losing several weeks ago for reasons we won’t get into here). Maybe you’ve been working at, say, Goldman Sachs, for several years now and are still addressed as “Hey, you.”

You could put your head down and keep grinding away at the hopes of one day being recognized for your contributions to the financial services industry. You could march up to your boss’s desk one day and say “Hey, I’ve got a name you know!” You could develop of a network of corporate insiders and then give Steve Cohen a call. Or you could simply start forgoing the razor and let your facial hair talk for you. What will it say? That you’re a god damn force to be reckoned with. Read more »


[@cgasparino, related]

Goldman Sachs has said it would move much of its European business out of London if Britain leaves the European Union. The warning from the world’s most powerful investment bank comes as political pressure for Britain to leave the EU mounts. David Cameron has committed to holding a referendum on Britain’s membership if the Conservatives win the next election and some Tory MPs have been agitating for an early vote on the matter. Michael Sherwood, co-chief executive of Goldman Sachs International, said: “In all likelihood we would transfer a substantial part of our European business from London to a eurozone location – the most obvious contenders being Paris and Frankfurt.” [Guardian via Heidi Moore]

  • 03 Dec 2013 at 1:26 PM

How To Be More Like Goldman Sachs, Part Four

Kicking off this week, ignore history and gamble that Chinese companies will grow—but that their favorite metallic addiction will get cheaper, anyway. Read more »