Banking & Finance News on Business Daily

Bank of America has announced the appointment of Matt Reilly as President of its New Hampshire operations.

The Goldman Sachs Group, Inc. has announced the appointment of Alex Golten as Chief Risk Officer.

The Goldman Sachs Group, Inc. has announced plans to release its financial results for the fourth quarter of 2024 on January 15, 2025.

Bank of America Corporation has announced the full redemption of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series MM, along with the corresponding depositary shares.

Goldman Sachs' 10,000 Small Businesses program has graduated 26 small business owners in West Virginia as part of its $100 million investment in rural communities.

Goldman Sachs has announced the appointment of Philippe Gallone as the Head of Healthcare Investment Banking for Europe, the Middle East, and Africa (EMEA) within its Global Banking & Markets division.

Goldman Sachs has partnered with the MIT-IBM Watson AI Lab to enhance biodiversity measurement using artificial intelligence.

Goldman Sachs has announced its intention to explore strategic opportunities for spinning out its technology platform, GS DAP, from the Digital Assets business.

The Goldman Sachs Group, Inc. has announced an expanded family office platform designed to offer private wealth clients greater flexibility and choice.

The Goldman Sachs Group, Inc. has announced that Denis Coleman, the company's chief financial officer, will be speaking at the upcoming Goldman Sachs U.S. Financial Services Conference.

Amira Sajwani, founder and CEO of PRYPCO, said that purchasing fractional assets allows investors to "compete" with traditional "financial instruments" like bonds and stocks.

The Goldman Sachs Group, Inc. has announced the appointment of Tyler Miller as Partner in the National Resources group and Global Co-Head of Power, Utilities and Infrastructure.

Goldman Sachs has announced its Partner Class of 2024, consisting of 95 individuals who will join the ranks of partners at the beginning of the next fiscal year on January 1, 2025.

The Goldman Sachs Group, Inc. has released its financial results for the third quarter of 2024, reporting net revenues of $12.70 billion and net earnings of $2.99 billion.

The Goldman Sachs Group, Inc. has announced dividends on several series of its non-cumulative preferred stock.

The Goldman Sachs Group, Inc. has announced the appointment of Melissa Goldman as Partner and Global Head of Technology Engineering for Global Banking & Markets (GBM).

Goldman Sachs has announced the expansion of its 10,000 Small Businesses initiative to Minnesota, as part of a broader $100 million investment aimed at supporting rural communities.

Private credit is increasingly shaping the financial landscape, propelled by macroeconomic shifts, regulatory changes, and technological advancements. As interest rates remain high, private credit has become an attractive option for investors looking for higher returns and senior positions in security structures, especially compared to traditional equities.

Valuation in private equity and private credit remains a complex and contentious issue, with growing scrutiny from regulatory authorities who have identified areas where valuation methodologies need improvement to ensure accuracy and transparency. Austin Brady, a product lead at Waystone, said the firm’s practices in their valuation model include several steps to ensure “valuations are accurate and reflective of real market conditions.”

The Federal Reserve has revised the stress capital buffer requirement for Goldman Sachs, lowering it to 6.2%.