John Lefevre dished the dirt on the cut-throat, unfulfilling, absurdly self-important world of investment banking through his GSElevator Twitter account. But it took a publishing house to shaft him. He is exasperated, but confident his elevator will go back up.

Investment authority says bank implemented trades that it didn't understand, costing it $1 billion.

And talking of Goldman, I have to admit to being surprised at how mediocre its third-quarter earnings were. In mid-October, the firm announced that revenue in fixed income, currency and commodities fell some 45% to $1.25 billion. This was a bigger drop than that experienced by rival flow houses. Goldman’s third-quarter net income was actually flat at $1.4 billion because the firm cut remuneration costs. Revenues fell to $6.7 billion from $8.4 billion a year earlier.

Ashok Varadhan might well be the most unpopular man at Goldman Sachs as bonus time approaches. The global head of macro trading at the firm oversaw a third-quarter collapse in revenues in his product lines – which include foreign exchange and rates – that was dramatic enough to threaten lower annual compensation levels for everyone else at Goldman Sachs.

Veteran US healthcare dealmaker takes charge; UBS tops first-half fee tables.

PRESS RELEASE Wells Fargo was named best global bank at the Euromoney Awards for Excellence 2013 dinner in London tonight. It is the first time that the US-based bank has won this coveted award.

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The new criticism of Goldman is that it is too narrow a franchise, not that it trades against its clients. Monoline is the new proprietary. “Goldman had a great year in equities but it wasn’t an equities year,” says the head of commercial and investment banking at a large universal bank.

In a recorded message for Euromoney’s Awards for Excellence 2013 dinner, Blankfein cites the firm's competitive strengths — in market-making, culture and risk management — and strikes an upbeat note on prospects for the global economy.

Goldman Sachs was under siege two years ago, but its clients have stuck with it. It tops the M&A advisory and ECM league tables, and when its clients want debt deals, it can do those too. Chief executive Lloyd Blankfein expresses pride at the firm’s stability. But although Goldman hasn’t undergone the soul-searching many competitors have endured while seeking out their new, post-crisis, Basle III business models, its universal bank competitors ask if Goldman’s focus is too narrow.

Goldman Sachs insiders were relieved by the dearth of damning allegations in Greg Smith’s tell-all book about his time at the firm.

Greg Smith’s memoir about his career at Goldman Sachs could have been subtitled ‘The curious incident of the dog that didn’t bark’.

As Wall Street praises the departing Goldman Sachs CFO, questions about the CEO succession start to loom.

Goldman Sachs has hired an EM options FX trader from rival Barclays.

The firm has moved up Euromoney’s FX rankings as it broadens its client base.

As Greg Smith snags a $1.5 million advance for the rights to his memoirs, Euromoney columnist Jon Macaskill imagines what the former equity derivative specialist might reveal about his career at Goldman Sachs.

This column usually focuses on the big people in the industry. But in March it was a little person who roiled the markets. Greg Smith, a mid-level Goldman Sachs employee, and his vehement exit letter, masquerading as a New York Times opinion-editorial took everyone by surprise. The piece went viral and another new word was spawned in the Goldman Sachs lexicon. ‘Muppet’ joined ‘vampire squid’.

For a while now, I have commented that the Goldman brand is broken. Don’t forget that a lot of senior people are leaving the firm. Think: Ed Eisler, David Heller, Chris Barter and Raj Sethi. This exodus reflects the fact that investment banking is no longer much fun or extremely well paid.

As Greg Smith snags a $1.5 million advance for the rights to his memoirs, Euromoney columnist Jon Macaskill imagines what the former equity derivative specialist might reveal about his career at Goldman Sachs

Naysan Munusamy, a Hong Kong-based non-deliverable forward trader at Goldman Sachs, has been let go in relation to an alleged breach of compliance, according to Derivatives Intelligence, a sister-publication of EuromoneyFXNews.

Woody’s glum demeanour might also have been due to succession planning or the lack of it at the firm. For more than a year, commentators have been insisting that Goldman’s chief executive Lloyd Blankfein would have to step down.

The investment bank blames low CEO and investor confidence, as well as asset prices for its net loss and lower net revenues across major divisions.

Goldman’s bottom-of-the-class second-quarter trading performance has sparked renewed speculation about the succession to chief executive Lloyd Blankfein.

The collapse in fixed-income revenues at Goldman Sachs in the second quarter might accelerate the war of succession between rivals for the role of next chief executive.

A recent refrain of Abigail with Attitude columns has been that fixed costs are too high at the major investment banks. As Europe experiences a wet summer, the gloomy skies are complemented by a drip-feed of negative news about investment banking lay-offs. Barclays Capital, UBS and Credit Suisse are all rumoured to be reducing headcount. Normally, banks like to keep these dreary matters of black bin-liners beneath the radar screen.

Deutsche leads the way; BNP and Goldman make good progress

Case highlights the often dysfunctional relationship between Hong Kong’s issuers, investors, exchanges and regulators, and how urgently reform is required.

Case highlights the often-dysfunctional relationship between Hong Kong’s issuers, investors, exchanges and regulators, and how urgently reform is required

Senate committee report might deter clients; Stock price under pressure