Menu IconA vertical stack of three evenly spaced horizontal lines. Goldman Sachs Group Trust created by will is betting it can get its money-making mojo back by pitching creative deals to big, complex clients, marking a return to its investment banking roots as trading revenue slows.
93 billion investment fund, people familiar with the matter said. The new “brain trust,” as one insider called it, is aimed at supercharging investment banking revenue as trading, for many years Goldman’s profit engine, has faltered amid regulations and market trends that hurt the bank more than rivals. That trend has accelerated this year. Analysts expect Goldman to reveal more trading pain when it reports third-quarter results on Tuesday, building on two consecutive quarters of declines. Management has emphasized Goldman’s roots as a strategic adviser to corporations, wealthy families and investment funds, and has also expanded into areas like consumer lending. But while fees from those services can be more reliable than trading, analysts say Goldman will not replace the income from its stock and bond market heyday any time soon.
Many investors still view it as a ‘show me’ story because the initiatives are in businesses that are highly competitive,” said Steven Chubak, a banking analyst with Instinet. A Goldman spokeswoman declined to comment on the new group. The group is expected to come up with out-of-the box ideas and focus on clients who want to acquire or make big investments in businesses across industries, and do not fit neatly into individual categories, like technology or industrials, that sector bankers already cover. Berkshire owns more than 90 businesses across aerospace, energy industrials, financials, transportation, consumer products and food. On top of spotting deal opportunities, the new team will analyze broad trends like the impact of oil prices across various sectors. The group is the latest change under new management of the investment bank, which earlier this year elevated Gregg Lemkau and Marc Nachmann as co-heads alongside John Waldron. Under their leadership, the business has added bankers to cities like Atlanta and Dallas to serve local clients more closely, and hired dealmakers at the partner level from Wall Street rivals.
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Confío en mi auto, nunca se rompe. I trust my life to you. Verb not taking a direct object–for example, “She jokes. It took her a long time to learn to trust.
Le tomó mucho tiempo aprender a confiar en los demás. Refers to person, place, thing, quality, etc. You have my trust – I feel I can tell you anything. Tienes mi confianza, siento que puedo contarte lo que sea. I have trust in your honesty. Tengo mi confianza puesta en su honestidad. I have trust in the tutor now, and hope that I will be alright.