Goldman Sachs Group Inc has been quietly moving thousands of jobs from pricey places like New York and London to cheaper cities like Salt Lake City in recent years, and executives said on Thursday those efforts are finally starting to show up in the bank's results...More than 30 people with global responsibilities are now based in the state capital of Utah, including a compliance team headed by Matthew Moore, a managing director who oversees regulatory audits and inquiries. A credit research team of more than 60 people who perform reviews of Goldman's counterparties is also based in Utah...One former Salt Lake City employee recalled visits from senior executives touring the office that were filled with awkward banter about skiing or the Mormon religion, and an emphasis on how important the office was because of how cheap it is. [Reuters via Lauren LaCapra]
Goldman Sachs, Morgan Stanley Could Really Use A Shortstop
But there's only one to go around, so...
Facebook CFO Could Use A Little Help Here
Anyone know anything about drumming up interest in a stock that's down over 45 percent since going public? Wanna help him out after this lockup period ends? No? He could use a little assistance here. Needs a little help. Flew all the way to New York to just come flat out and say "help me." Facebook Chief Financial Officer David Ebersman is meeting with investors in New York today, a person familiar with the matter said, days before the lifting of a ban on stock sales by some of the company’s biggest shareholders. The person asked not to be identified because the meetings are private. Through yesterday, Facebook had tumbled 45 percent since the company sold shares at $38 in a May 17 initial public offering. The lockup on the first block of shares held by insiders expires on Aug. 16. Facebook, which hasn’t closed above the IPO price since its first trading day, needs to reassure investors that it can increase revenue from advertising as more of its almost 1 billion users access the social-networking service on mobile phones, said Victor Anthony, an analyst at Topeka Capital Markets in New York, in an interview. “Investors who bought into the IPO have lost billions of dollars,” Anthony said. “He needs to get out there and tell the story of how he’ll drive revenue growth.” Facebook CFO Said To Meet With Investors Before Lockup Expiration [Bloomberg]