Goldman Sachs Group Inc's managing directors were invited to meetings this month to receive an ominous message: take even more painful steps to cut costs, according to four sources familiar with the situation. Belt-tightening on the agenda for meetings of Goldman's top executives is another sign that the firm's ongoing push to cut $1 billion in costs is now accelerating as managers target smaller and smaller line items and contemplate more job cuts, sources said. Now senior managers are needed to sign off on expenditures and travel requires seeing multiple clients, the sources said.
Goldman Sachs Group Inc's managing directors were invited to meetings this month to receive an ominous message: take even more painful steps to cut costs, according to four sources familiar with the situation. Belt-tightening on the agenda for meetings of Goldman's top executives is another sign that the firm's ongoing push to cut $1 billion in costs is now accelerating as managers target smaller and smaller line items and contemplate more job cuts, sources said. Now senior managers are needed t
The bank has started trimming roles in middle office functions including human resources and digital transformation in Asia in the last few weeks, according to people familiar with the matter, who asked not to be identified as the information is private.
Citigroup CEO Jane Fraser says the company's abrupt decision to abandon a long-running sales process of its Mexican retail operations won't change its medium-term guidance nor the eventual plan to exit the unit and allows stock buybacks to resume.
Citigroup Inc CEO Jane Fraser said scrapping the sale of its Mexican retail business, known as Banamex, and pursuing an initial public offering was in the best interest of shareholders. . | June 2, 2023