Solomonic Financial News

Penny Wong said on Sunday that a security and migration pact signed with Tuvalu showed Australia was a «genuine, reliable» regional partner, as it seeks to counter China's influence in the Pacific. Australia announced on Friday the security guarantee to the tiny Pacific Islands nation to respond to military aggression, protect it from climate change and boost migration. Australia, a United States ally, has been working to shore up its Pacific standing amid a rising China, which recently upgraded a security pact with Solomon Islands. «It is about Australia saying to the region and to Tuvalu, we are a genuine, reliable partner and when we say we are part of the Pacific family, we mean it,» Wong told the Australian Broadcasting Corp, regarding the Tuvalu pact. Asked if it was linked to China's activity in the region, Wong said: «We recognise we live in a more contested region and we have to work harder to be a partner of choice, we know that». Under the treaty, announced in the Cook Islands by Australia's Prime Minister Anthony Albanese and his Tuvalu counterpart Kausea Natano, Australia will also vet Tuvalu's security arrangements with other nations. Albanese has called the pact Australia's most significant agreement with a Pacific Island nation, giving «a guarantee that upon a request from Tuvalu for any military assistance based upon security issues, Australia will be there.» Tuvalu, population around 11,000, is one of just 13 nations to maintain an official diplomatic relationship with Taiwan, as Beijing has made increasing Pacific inroads. A collection of nine low-lying islands mid-way between Australia and Hawaii, Tuvalu is one of the world's most at-risk countries from climate change and has long drawn

Myer’s outgoing chief executive John King predicted Black Friday trading to beat Christmas this year, after reporting improved turnover in the past seven weeks.

Myer’s largest shareholder, billionaire businessman Solomon Lew, has urged the retailer’s board to update the market on the performance of the department store, flagging concerns that three key leaders are exiting the company in close succession.

Brent Potts’ Blue Ocean Equities has added a new member to its advisory ranks, picking up Elaine Faddis from Jefferies Australia.

As this profile of Marc Nachmann says, Goldman Sachs CEO David Solomon has “pinned his hopes on … a newly merged asset and wealth management division” run by Nachmann, and “his job security may depend on it”.  The article also correctly summarises the general view of the Street when it comes to Goldman’s ambitions to roughly triple divisional profits from their 2022 level, which could be summarised as “pretty sceptical”.

By Kane Wu and Scott Murdoch

Ted Pick, the head of Morgan Stanley's investment bank, is going to become Morgan Stanley's new CEO. He found out yesterday at 5pm EST when he was walked into a room and was given a standing ovation. If you want to be like Ted, there are a few techniques you might to integrate into your self-management toolkit. 

how to motivate his employees—and himself. Schemes should be self-managed with the junior party taking the lead in arranging discussions which are always confidential. It is best to let employees choose the person with whom they would most like to discuss their career trajectory, no matter their position on the corporate ladder.

Get ready, advisors! Goldman Sachs is stepping back into the RIA space.  

Goldman Sachs currently employs 45,900 people. In the past 12 months, it's cut 3,200 jobs. This has not, however, prevented all kinds of people from wanting to work there. 

Now that all the big investment banks (JPMorgan, Goldman, Citi, Bank of America and Morgan Stanley) have reported their third quarter results, there's more clarity on the performance of investment bankers working in M&A and debt and equitycapital markets. 

Given that Paco Ybarra, head of Citi's institutional clients group, wasn't a supporter of working from home during the pandemic, his eagerness to keep on coming into the office at a time when most people might be happy tending the dahlias is perhaps unsurprising.

symphony is over! For David Solomon, CEO by day and DJ by night, the music has stopped, literally. Solomon, the Chief Executive Officer of Goldman Sachs, doubled up as a high-profile party DJ in his time away from the boardroom. But that musical soiree is now over for this corner-office occupant after the bank's board showed concerns at the adverse attention that his non-work stint was drawing.

New York | Goldman Sachs posted a second straight quarter of real estate write-downs and a continued dealmaking slump, leaving the investment bank’s profitability at about half the level it’s targeting.

By Saeed Azhar and Niket Nishant

The Treasury market is serving up levels of volatility last seen during the pandemic-era turbulence of March 2020.

Goldman Sachs saw its third quarter earnings fall 33%, with the investment bank seeing muted market conditions that allowed fewer deals and market making opportunities for the firm

According to a Financial Times report, David Solom... moreAccording to a Financial Times report, David Soloman, the current CEO of Goldman Sachs has decided to put a stop to his colourful side hustle of being a high-profile DJ.

In this article

In this article

By Daina Beth Solomon