Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Bank glooms deepens as Goldmans axes 100 partners

Banks continue to bear the brunt of the global economic crisis with Goldman Sachs the latest to scale back its workforce.

According to the Sunday Times, the investment bank is to make 100 of its partners redundant. The news comes after a number of major investment banks, including Barclays, Deutsche, UBS and Credit Suisse have announced job cuts over the last few months.

The move by Goldmans would cut the number of partners on its books by 20% with the firm’s chief financial David Viniar among those being shown the exit door, according to the paper.

In its interim results Goldmans issued earlier this year Goldmans said it wanted to cut expenses by $1.5 billion to $2 billion.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play HSBC's Stephen King warns of 'enormous' Brexit deficit danger

HSBC's Stephen King warns of 'enormous' Brexit deficit danger

Brexit will weaken the economy, fail to boost exports and lessen the country's ability to fund its 'enormous' deficit, according to HSBC's senior economic adviser Stephen King.

Play Premier's Smith: electricity and water can be a good mix

Premier's Smith: electricity and water can be a good mix

Exposing your person to electricity and water simultaneously is ill-advised, but what about your portfolio?

Play Citywire 10k: video highlights

Citywire 10k: video highlights

Citywire held its sixth annual charity run last week, which hosted over 200 people and raised £14,000. Here are the video highlights.

Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter