Chilean broker and US bank to build derivatives platform; Economists view Chile as Latin tiger

One of Deutsche Bank’s most senior emerging markets bankers is joining Goldman Sachs

Goldman Sachs has always set itself apart. And that goes for its people as well as its business. Somehow Goldman bankers just look different and sound different to those at other shops and are clearly worth protecting.

How to safeguard the value of risk capital.

Goldman Sachs received plaudits following its first-quarter results. It beat all estimates when it posted earnings of $1.8 billion, equating to $3.39 a share, compared with expectations of $1.80.

"The negative net revenues for FICC in the quarter were due to losses from investments, including corporate debt and private and public equities, and trading in credit products. These results were adversely impacted by unprecedented weakness across the broader credit markets..."

James Garvey announced his retirement from Goldman Sachs in December 2008. Garvey’s title was chairman of investment-grade financing – a role that was given to him after the firm made syndicate and debt origination a global business run under Jim Esposito a year ago.

Goldman Sachs cut around 10% of its workforce this week. Among those rumoured to have departed are Matt Alexy, who worked in real money sales in New York, Juan Corbella, who serviced UK investors, and Luca Pietrangeli, who looked after Italian investors.

Among the 94 new partners announced by Goldman Sachs are Lora Price in New York and Kevin Connors in London, who both have something to do with FX. I got in touch with Goldman and asked: “Can you also let me know what they actually do for their money?” Turns out that Connors is co-head of FX sales, EMEA and Price is head of corporate sales, North America.

The US bank (and it will take a while to get used to calling it such) stays one step ahead of the pack through successful capital raisings.

Goldman Sachs

The obsession about Goldman Sachs in the financial world – not least among its competitors – is nothing new.

Voracious risk appetite propelled Goldman’s earnings in the good times and induced rivals to follow suit. Only when the crash came did they learn, too late, how good a risk manager Goldman is. By managing itself well and avoiding the worst hits, while rivals are clearing up their own mess, Goldman has enhanced its client franchises. It is open for business with customers and reminding them why they wanted to deal with the firm in the first place. How has Goldman achieved this? Peter Lee asks the firm’s senior management to answer the question.

Lehman Brothers and Goldman Sachs have executed what is thought to be the first long-dated Asian property derivative option.

If you’re sick of hearing about Goldman Sachs beating the competition, look away now. Euromoney has conducted its first (somewhat unscientific) poll of investment banks’ online popularity as measured on social networking site Facebook, and the US firm has won by a clear margin. Facebook allows companies to create ‘fan’ pages: "...a unique experience where users can become more deeply connected with your business or brand. Users can express their support by adding themselves as a fan, writing on your Wall, uploading photos and joining other fans in discussion groups."

Goldman Sachs has taken a minority stake in Kiev-based investment bank Dragon Capital via a share capital increase. "This development is recognition of the professionalism and success of our 120-strong multinational team and of our track record of triple-digit returns on equity," says Tomas Fiala, Dragon Capital’s managing director and controlling shareholder.

Private banking 2008: When the ultra-wealthy bump into the sub-prime

Goldman Sachs has appointed Jim Esposito as global head of investment-grade financing, a new role that incorporates both the syndicate and origination businesses. Esposito was previously the head of US debt syndicate.

Private banking 2008: When the ultra-wealthy bump into the sub-prime

Goldman Sachs has appointed Beatrice Sánchez as regional manager for its private wealth management business in Latin America. She will join the US bank next spring from HSBC Private Bank. Sánchez will be based in Miami.

Spotted in India: Goldman Sachs’s chairman and CEO, Lloyd Blankfein, enjoying the festivities at a party in New Delhi hosted by Azim Premji, the silver-haired chief of one of the subcontinent’s biggest IT firms, Wipro.

Goldman Sachs knows how to spot an opportunity.

Goldman Sachs shows that marking to market goes hand in hand with good risk management and smart position taking.

Goldman Sachs has appointed Chris Barter and David Schwimmer as joint CEOs of its Moscow office. Barter was previously co-head of the European financial institutions group in London at the bank. He will relocate to Moscow by the end of the summer. Schwimmer was head of investment banking for Russia and central and eastern Europe. He is already based in Moscow. Goldman received its first Russian securities brokerage licence last year and, according to observers, is hiring aggressively across all products

"We absolutely cannot talk about it," was the repeated response of Goldman Sachs to market reports that it is setting up a mini private exchange to enable alternative investment firms to list without the hassles of regulatory oversight.

Macro fund on losing streak; incentive fees down 88% in February quarter.

Goldman Sachs is pursuing innovative structures, including LBOs and other transactions not previously executed in Brazil as it seeks to become one of the top three banks in the country.

Goldman Sachs has been fined what some might call a rather lenient amount, $2 million, for selling short an IPO pre-sale.

Summary table of top banks, with quick links to more related content on euromoney.com

Christopher Egerton-Warburton is the new head of origination in the sovereign, supranational and agency (SSA) business at Goldman Sachs. “Edge” has been at Goldman Sachs for 13 years and has been associated with landmark trades such as the UK and German dollar deals. Of late he has focused on more strategic issues such as the creation of the International Finance Facility for Immunization (IFFIm).