Goldman Sach's chief Lloyd Blankfein had called up his Citigroup counterpart Vikram Pandit to discuss a merger but the proposal was rejected by the India-origin chief executive officer, The Financial Times has reported.
Goldman Sachs has emerged from the market bust as a trading colossus. New Chief Lloyd Blankfein must fuel growth -- and avoid an unforeseeable blowup.
Also to be questioned under oath by lawyers of the SEC and Gupta is Greg Ormond of Exemplar Wealth.
The brief courtroom drama began on Monday when the jury was listening to the testimony of star government witness Goldman Sachs chief executive officer Lloyd Blankfein.
Blankfein, 57 took the witness stand on Tuesday in Gupta's trial, which began in a Manhattan court on May 21.
World's first "rock star" economist, he coined the popular term "BRIC"
Gupta's lawyer Gary Naftalis submitted in a Manhattan court on Tuesday his list of 10 witnesses he would 'most want to depose on behalf of Gupta.'
Indian American Rajat Gupta, a former director at Goldman Sachs, had violated the firm's code of conduct by disclosing details from a 2008 board meeting to hedge fund manager Raj Rajaratnam, the main accused in the largest hedge fund insider trading case to hit US courts, the company CEO Lloyd Blankfein has testified.
Blankfein will at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam.
The company's 30-person management committee, including chairman and chief executive officer Lloyd Blankfein, chief financial officer David Viniar and leaders of the firm's global and regional divisions, would get bonuses in stocks, which cannot be sold for five years.
The Goldman employees currently receive as much as 75 per cent of their annual bonuses in restricted stocks or options.
NRI billionaire LN Mittal is among the front runners for a committee being set up to improve ethical behaviour of crisis-ridden Goldman Sachs, says a media report.
Speculators do play a role in creating liquid markets. Other players like hedgers, arbitrageurs and long-term investors are not enough to create continuous market liquidity and prices.
It's one Forbes list where none would want to figure, but Ramalinga Raju, founder-chairman Satyam Computers (now Mahindra Satyam), has managed the feat of being among the world's 10 most outrageous CEOs.
Goldman Sachs has bounced back spectacularly from the financial crisis and so far this year it has earmarked $16.71 billion as compensation.
Goldman Sachs on Tuesday reported its first quarterly loss since it became a public company in 1999, after a severe decline in asset values, including real estate, hit the bank's revenues.
The Wall Street Journal said the move, which is being closely watched, may be followed by other players at Wall Street. After months of internal debate at Goldman, the paper said the seven top executives at the firm, including chief executive officer Lloyd Blankfein, asked the board's compensation committee to grant them no bonuses.
Who knows when the top chief executives will once again get the fat bonuses they were used to? The last recession provides a hint.
Goldman Sachs on Wednesay began celebrating confirmation of bumper bonuses for this year, with the chairman and chief executive, Lloyd Blankfein, expected to lead the pack with a 30 per cent increase in his pay to about $70m.
Kunal Shah is one of five of India-origin to have made the cut in Goldman Sachs in the 2014 class of partners.
57-year-old Kotak is ranked 33rd in the Forbes list of 'Money Masters: The Most Powerful People In The Financial World'
Reserve Bank of India Governor Raghuram Rajan took charge of India's central bank when the rupee seemed to be in a tailspin while the country was facing runaway inflation.
The 41- year old is currently the head of macro trading in Goldman's Securities Division.
A growing China is good for everybody as creation of wealth "ultimately trickles across the world", Goldman Sachs chairman and CEO Lloyd Blankfein has said.
BWith a distracted president brooding in the White House, Pompeo seems to think his day has come. He seems to be pushing a personal agenda before a target audience in America, observes Ambassador M K Bhadrakumar.
'I am not surprised that hubris brought Chanda Kochhar down. It would appear that as a person she thought she could do no wrong and as a leader she considered herself above what her company demanded of others in terms of financial probity and honesty. That, my friends, is NOT a good way for a leader to feel,' says S Muraleedharan, former managing director, BNP Paribas.
Britain's vote to leave the European Union means uncertainty for markets and companies as London initiates at least two years of negotiations with the EU.
In India we have to be careful not to copy any level of dependence on the financial sector and infatuation with the get-rich-quick syndrome, says Jaimini Bhagwati.
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