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Morgan Stanley (MS)

Morgan Stanley plans to change how top executives are paid, with more compensation possibly deferred and tied to stock benchmarks.
The investment bank is the latest Wall Street firm to bow to increasing pressure from shareholders and Washington to scale back lavish compensation packages as the country digs out of a prolonged recession; one for which the financial industry shoulders much of the blame. Earlier this month, Goldman Sachs announced its top 30 executives would not get cash bonuses this year and instead receive deferred stock compensation.

Jan 1 · 3:18:00 PM · Source: CBS News
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by Michael Oliveto

Goldman Sachs (GS)

Goldman Sachs won the biggest share of the $923 million in fees from U.S. initial public offerings in 2009, while Citigroup Inc. fell out of the top five after its revenue plummeted more than 50%.
Goldman Sachs made $191.6 million helping take 16 companies from Hyatt Hotels Corp. to Cobalt International Energy Inc. public in 2009, an increase of more than 60 percent from 2008, preliminary data compiled by Bloomberg show. Citigroup’s share of fees dropped to $68.3 million, making the New York-based lender the only underwriter that participated in at least $1 billion worth of sales to suffer a decline in revenue.

Jan 1 · 2:28:00 PM · Source: Bloomberg
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by Michael Oliveto

Goldman Sachs (GS)

A unit of Goldman Sachs bought about $57 million in claims on bankrupt Lehman Brothers Holdings Inc. from Japan’s Shinkin Central Bank, according to court filings.
The claims consist of Yen-denominated bonds issued by Lehman with fixed and floating rates, which have matured or come due next year, according to the filings yesterday in U.S Bankruptcy Court in New York.

Jan 1 · 2:25:00 PM · Source: Bloomberg
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by Michael Oliveto

Goldman Sachs (GS)

Goldman Sachs has filed for regulatory approval with the U.S. Securities and Exchange Commission to launch market-tracking indexes for several emerging markets.
The first ETF from Goldman Sachs will focus on the top 85 percent of companies as measured by market value in China, India, Brazil and Korea, according to the filing. The index itself will be created by an unnamed company not connected to Goldman Sachs.

Jan 1 · 2:24:00 PM · Source: American Banking News
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by Michael Oliveto

Goldman Sachs (GS)

Shenzhen Nanshan Power Co., a utility based in the southern Chinese city, said it refused demands by a Goldman Sachs Group Inc. unit to pay $80 million for alleged default on oil-hedging contracts.
Shenzhen Nanshan and Goldman Sachs disagreed on the cause for terminating the contracts in December 2008 and it remains to be determined which party should incur the trading losses, the Chinese firm said in a stock exchange statement today. Shenzhen Nanshan said that while negotiations with Goldman Sachs' Singapore unit are continuing, it won't rule out the possibility of legal action.

Jan 1 · 2:22:00 PM · Source: Business Week
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by Michael Oliveto

J.P. Morgan (JPM)

JPMorgan Chase has said that by the end of 2010 they plan to have opened 120 new branches and have hired over 1,000 new employees.
Many analysts have said the economy will still be recovering in 2010, but JPMorgan Chase doesn’t seem to be slowed by these opinions and doesn’t plan to stop their expansion in the new year.

Jan 1 · 1:56:00 PM · Source: Red, White, and Blue Press
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by Michael Oliveto

Citigroup (C)

CitiGroup’s foreclosure prevention program, Citi Homeowners Assistance Program has, as of third-quarter reports, helped 130,000 homeowners who were in trouble with their mortgage and has helped over 40% of those homeowners who qualified for the Making Home Affordable Program.
One of the more recent stories about CitiGroup came around the Holidays where CitiMortgage suspended foreclosures for one month to allow homeowners to keep their homes and abstain from the stresses of foreclosure over the Christmas season.

Dec 31 · 3:12:00 PM · Source: Red, White, and Blue Press
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by Michael Oliveto

Citigroup (C)

Bain Capital Partners LLC announced that it has completed the acquisition of BELLSYSTEM24, Japan's call center operator, from Citigroup Capital Partners Japan Ltd., a subsidiary of Citi.
On November 14, 2009, Citigroup Capital Partners Japan Ltd. had entered into a tender offer agreement with an affiliate of Bain Capital under which it received cash consideration for its 93.5% stake in BELLSYSTEM24. The total transaction was valued at approximately JPY100 billion (equivalent to USD1.1 billion).

Dec 31 · 3:10:00 PM · Source: Reuters
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by Michael Oliveto

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