Transcript: Motivating Sachs Employee's - Suzanne McGee, author of Chasing Goldman Sachs Always working to expand customer relationships Making effort to recruit the best people Team work is the key to success Integrity and honesty are at the heart of the business Conclusion: What lies ahead for Goldman Sachs? 2007 Mortgage Crisis - misled investors & profited from collapse Sued by SEC - $550 million settlement 2010 - Insider trading 2012 - Greg Smith Return on Equity 0.026 Debt Ratio 9.341 Japan Renewable Energy Project Why has Goldman Sachs been so successful? Liquity Ratio 0.52 Goldman Sachs has a better public image Investment Banking Services Strategic advisory Mergers, acquisitions Asset Management Financial planning Managing investments Investing Lending Reputation What does Goldman Sachs do? What is Goldman Sachs? Company Vision and Mission Helps their partners become more efficient Match 401K benifits Health Care and Medicare insurance 3week vacations Wellness service 16 week maternity leave Child care centers Reimbursement (tuition, travel and meals) Scholarships discount (household services,loans and mortgages) Providing what the public wanted Treating employees fairly Largest investment bank Believe in Equal opportunity employment and diversity $500 million to Solar City Saves them money 1980's - ultimate accomplishment 1990's "They were believed to be able to outperform everyone else in every way." In order for Goldman Sachs to continue to be successful they need to make sure they accomplish a few things: Overcome past difficulties Financial representation needs to be more truthful Motivation of employees Follow Vision and Mission Statements Ethical Responsibility of Goldman Sachs Goldman Sachs Financials Profitability Ratio 0.244 $40 billion donation for renewable energy Who does this help? 1869, New York Largest investment bank in the world Employee 31,700 $34.5 billion in 2014 Corporations and governments
Transcript: Summary Lloyd Blankfein Tip of the Iceberg Goldman Sachs is a very successful investment bank because of their hard work and determination, more so, than other investment banks. They have been part of many important financially substantial business deals such as the initial public offering (IPO) of Facebook. Goldman Sachs only picks the best possible candidates to insure that they have the best employees making executive decisions for the company. By using its resources Goldman Sachs has put itself at a position of power and respect despite its previous controversies. With the way other investment banks are doing business, they are helping Goldman Sachs succeed in the current and future market. Success is measured in many ways, however, Goldman Sachs' success is measured and revenue and currently Goldman Sachs is the most successful investment bank in today's society. Profiling by: Alex McDaniel By: Alex McDaniel Influence on Society Goldman Sachs impacts society greatly. They have shown the economy substantial gain throughout the years with profit gains in many companies as well as their own. They have stirred up a bit of controversy during the financial crisis They are the investment bank always in the media, with all the viewers attention. If you didn't know about investment banking necessarily, you might still know about Goldman Sachs! Success I hope you have enjoyed this profiling of Goldman Sachs! Goldman Sachs is the tip of the iceberg when it comes to investment banking! They hold the most powerful clients, and have more influence on society than other investment banks. It's extremely prestigious to work for such a company and therefore it comes with extreme benefits. Goldman Sachs focuses on education for many countries; this allows these countries to improve their diplomatic standpoints. Fraud Goldman Sachs Goldman Sachs focuses on their investments at a global standpoint. For example Global Economics is a main priority because it expands their profit margins and allows multiple economies to be stimulated. Goldman Sachs also focuses on energy and the environment for the entire world. They work with different companies that allows them to develop different uses of energy. Although Goldman Sachs is known to be a very powerful and prestigious investment bank, they are also known for their ties with the financial crisis and insider trading. During the financial crisis of 2008, Goldman Sachs was accused of helping start this disaster. Goldman Sachs allegedly advised investors to invest in the housing market when they knew that it was going to go negative. What Goldman Sachs did was giving advise to clients to bet on a market they knew would not succeed. Goldman Sachs bet the opposite way, against the housing market, and made substantial profit. After they were charged and convicted several years, later they had to pay a fee of $550 million to the SEC and Goldman Sachs' investors. Goldman Sachs has had several employees be convicted of insider trading. Goldman Sachs former director Rajat Gupta was convicted of securities fraud in his hedge fund. His maximum sentence could be 65 years in prison, but because he chose to cooperate he now only faces probation. This shows that even though companies are based of good and greatness, it doesn't mean that there isn't corruption in these organizations. Goldman Sachs works on not only national, but on a global stand- point. Goldman Sachs works has several divisions of priority when it comes to structuring their different topics. Divisions of Goldman Sachs Goldman Sachs focuses on political and public policies which allows them to be more aware of what new policies are. This allows Goldman Sachs to find loo pols and yield more profit for them and their shareholders. The End
Transcript: Brand name issues - foreign and PR struggles Unknown legally, political, and especially cultural dynamics Potentially a lack of local talent for hiring Need to ensure that there is a big enough market Recommend due diligence analysis of each location and potential acquisition before moving further MIST nations are the biggest markets in GS's N-11 Equity Fund Fund had $113 million in assets spread out across 73 stocks as of February 2011 As of 2012, the N-11 fund had beaten 93% of US-based emerging-market equity funds while the BRIC fund lagged 89% of them The BRICs have twice the commodities exposure of the MISTs but the MISTs have twice the exposure to recent growth in consumer-spending activity Execution Risks Geographical Targets Asset Management Started in 1986 with $10.6 billion 5th of 62 companies under "Best family funds of 2012" 33 of 100 under Fortune's best companies to work for 1,800 professionals in 31 offices worldwide Private Wealth Management $184 billion in accounts 400 advisors, 13 locations, 20-30 clients Additional 150-200 abroad Investment bank, securities, and investment management company - "Bank Holding Company" Reports in 4 business areas: Investment banking, institutional client services, investing and lending, & investment management Clients: Corporations, governments, institutional clients, high-net-worth individuals Base business activities around their 14 business principles Focus on philanthropy: 10,000 Small Businesses, 10,000 Women, Goldman Sachs Gives, Community Teamworks #2 Corporate Giver in the U.S. (only behind Wal-Mart) IMD is a relatively new division of the firm PWM established 1972; GSAM established 1986 Industry Analysis Colombia US-Colombia Free Trade Promotion Agreement Emerging market Thailand Increase in the number of millionaires Prime Minister's initiative toward free trade Geographical Targets Goldman Sachs Global Business Strategy Presentation Africa GDP- $244 Billion Population could match U.S. by 2050 Singapore GDP $270.02 Billion Easiest country to start a business according to World Bank Globalization Drivers Geo-political Culture, Customs, Ethics Foreign Direct Investment in the form of greenfield and brownfield investments Exporting and licensing out of the question because of the amount of control given up Joint alliances also not preferred because of the exclusivity and elite "Goldman Sachs" name FDI Brownfield Immediate market share and can leverage the existing advisors and client relationships FDI Greenfield Allow firm to strategically set itself in the preferred market position, and allows firm to make ideal hiring choices to maintain the firm name and image Next 11& MIST Nations Asset Management $800 billion AUM Leader is BlackRock with over $3.5 Trillion AUM Private Wealth Management Ranked 7th in Barron's Top 40 Wealth Managers Fighting multinational firms and regional competition Firmwide Competition and "Bulge Bracket" Banks JPMorgan, Bank of America Merrill Lynch, UBS, Morgan Stanley, Wells Fargo, Credit Suisse, Citigroup, Barclays, Deutsche Bank Slightly different but compete in multiple business activities Industry Challenges: Geopolitical instability Regulatory change Background - Localization closes the gap Need to customize to fit individual and specific client needs Local presence facilitates relationship building, communication, and local market understanding - Localization maximizes the value chain benefit - Compared to other strategies: High focus on local responsiveness Eliminates internationalization and global standardization Localization preferred to transnational because it allows room to preserve prestige and reputation Carolina Baca, Arturo Gonzalez, Jose Villalta, & Brittany Williams Entry Modes Next-11s include Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, Turkey, South Korea, and Vietnam Chosen by Goldman based on their Macroeconomic stability Political maturity Openness to trade Quality of their education with the main criterion being population As of 2011, the four major countries Mexico, Indonesia, South Korea, and Turkey (MIST) made up 73% of the N-11's GDP "Value Add" Strategy Focus on meeting client needs and objectives through customized investment programs and strategies Trying to add value to their clients' financial investments and planning Extreme customization in their Private Wealth Management Division Big relationship and customer service business Goal is for the relationship to create value on both sides Desired State Primary goal: Long-term capital appreciation as markets recognize the true value of quality companies Long-term goals = moving from the #7 PWM firms to one of top three & to one of the leading investment management firms in terms of AUM Current State Strategy Choice Core Strategic Focus MIST Nations Global Challenges
Transcript: Three part Very hard to understand Strong Team Years of experiance Trust with cliants Fiduciary= Trust Company Overview Founders: Marcus Goldman, Samuel Sachs Current CEO: Lloyd Blankfein Current COO: Gary D. Cohn Goldman's future remains bright as far as their place in the economic world. It’s safe to say that as the economy and banking evolves, the company will too. - Accusations by the U.S. Securities and Exchange Commission of deceit regarding the complicated security transactions called ABACUS 2007-AC1 Mission Statement History Began in 1886 as a sole proprietorship of Marcus Goldman Expanded in Partnership Goldman-Sachs when Samuel Sachs joined the company Stood as one of the most prominent and feared investment banks of it's time Has been the cause of many economic disruptions Social Responsibility Investment Banking Institutional Client Services Investing and Lending Investment Management - In 2011 the company boasted of investments in clean technology to the amount of $500 million Goldman Sachs is a for profit investment banking based firm founded in 1869 by Marcus Goldman. Services Offered Leave power to employes Conduct business ethically Hire people based on principles and values Business is Unethical Great at looking good Summary Introduction Goldman Sachs Jalen Jones, Andrew Keating, Spencer Kelley, Theron Binder - The 10,000 Small Business Initiative Code of Ethics - Plan to invest $40 billion in clean tech companies over the next ten years
Transcript: Investment Banking Bankrupt Businesses: Global investment banking Securities Investment management Other financial services Self definition: Client-oriented Innovator of new products and businesses What makes Goldman Sachs so special and so powerful? TEAMWORK Jobs = Projects Company = Team German Origin Family Business Collective Interests > Individual Heroism "Ranked No.4 of 119 Best Places to Launch a Career" Thank you! IT Business Week's Ranking Marcus Goldman 1821 – 1904 Gustave Levy 1910 - 1976 Goldman Sachs Establishing the initial public offering (IPO) market Investment Banking Sidney Weinberg 1891 – 1969 "Long-term greedy" First success Trading Join NYSE in 1896 Q&A Yuxiang Wen Samuel Sachs 1851 – 1935
Transcript: A global investment banking, securities and investment management firm. FOUR BUSINESS SEGMENTS Investment Banking. advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, risk management, restructurings and spin-offs. Investing and Lending. Make investments, directly and indirectly through funds that they manage, in debt securities, loans, public and private equity securities, real estate, consolidated investment entities and power generation facilities. Institutional Client Services. Facilitate client transactions and make markets in fixed income, equity, currency and commodity products. Investment Management. Provide investment management services and offer investment products such as mutual funds and private investment funds. To high-net-worth individuals and families. "Public criticism of Goldman Sachs has come to China, where the investment bank has been lambasted in articles in state-controlled media. Parts of the media, apparently emboldened by congressional inquiries and public anger in the west, have openly slated Goldman, arguably the most successful foreign investment bank in China. Many people believe Goldman Sachs, which goes around the Chinese market slurping gold and sucking silver, may have, using all kinds of deals, created even bigger losses for Chinese companies and investors than it did with its fraudulent actions in the U.S. Some officials have even accused the bank of 'playing little tricks carefully designed to gamble with Chinese enterprises'. The media largely criticize Goldman for being too successful in China. Goldman saw a 2007 investment in a small pharmaceuticals export company of less than $5 million rise to nearly $1 billion at the company’s IPO, a gain of 20,000%." - Jamil Anderlini, Financial Times A predator lurks in US, and in China "Investment banks such as Goldman Sachs are the major tools of the United States' financial hegemony. In 2007, Goldman Sachs gained more than half of its pre-tax revenue outside the US for the first time, with China as the fastest growing market. In December 2004, the China Securities Regulatory Commission approved the joint venture of Goldman Sachs Gao Hua Securities Company Ltd, which was set up together by Goldman Sachs and Beijing Gao Hua Securities Company Ltd. Goldman Sachs entered into the Chinese security market right before the start of a bullish market. According to a rule enacted in 2002, the total proportion of foreign shareholding or equity participation in foreign securities companies should be no more than one-third. Goldman Sachs owned 33 percent equity of the joint venture and Gao Hua had 67 percent. However, Gao Hua was set up by Goldman Sachs with a $100 million loan, and Lenovo, an important client of Goldman Sachs. The company is basically a front. The fact is that Goldman Sachs holds almost 100 percent of the joint venture. What is more noticeable is that, it is also the economic adviser for several provincial governments. It has provided consulting and underwriting services many times when the Chinese government issued national debts." - Jiang Yong "Code of Business Conduct and Ethics." guidelines such as: "It is the firm's policy to comply with all applicable laws." "We have a history of succeeding through honest business competition." "Each employee and director should endeavor to deal fairly with the firm's clients." Very last page - "From time to time, the firm may waive certain provisions of this Code." ECONOMIC STIMULUS A healthy economy benefits everyone. We use our understanding of financial markets, along with our capital, to invest in communities and to facilitate economic growth. • 10,000 Small Businesses: Small businesses are the greatest generator of new jobs. That is why 10,000 Small Businesses is committing $500 million to support the job-creation potential of small businesses across the United States, providing greater access to business education, mentors, networks and financial capital. • Municipal Finance: In the United States, we help states and municipalities build schools, repair bridges, improve highways and address other vital public needs by providing access to the capital markets. Since we entered the public finance business in 1951, we have been one of the largest industry participants. Over the past 10 years, we have helped to raise over $250 billion in funding for states and municipalities. As an advisor, market buyer and seller, underwriter and co-investor, we have helped secure funding for: • Public power and utility systems • Infrastructure improvements • Transportation projects • School construction and expansions • Non-profit healthcare and higher education systems • Urban Investment: The Goldman Sachs Urban Investment Group (UIG) deploys the firm's capital to help transform distressed U.S. communities into sustainable and vibrant neighborhoods of choice and opportunity. UIG facilitates affordable housing development, economic
Transcript: Ticker Symbol: GS Trades on the NYSE exchange Current Price: $182.43 1 Year Target: $179.09 Headquarters: New York City, NY Next Earnings Date: October 16, 2014 Provides investment banking, securities, and investment management services to corporations, financial institutions, governments, and high-net-worth individuals worldwide. The MFI in the stock is slightly over 50 which means the stock is pretty neutral, before making any moves, study the stock to see if the MFI increases or decreases. If the the MFI increases its a good time to sell The RSI is similar to the MSI. When the RSI is over 50 its probably a good time to sell. For GS the current RSI is about 65 and looks to be going up. Now would be a good time to sell your stock and make a profit. Nicolette Cerami Goldman Sachs Market Cap: $83.58 ESP: 15.58 P/E: 11.72 Div/Yield: 2.20 (1.30%) CEO: Lloyd Blankfein Annual Salary: $55 Million Closing price for 2013: $158.21 52 Week Range:$151.65-$188.58 Analysis
Transcript: Managing Directors Target Structure & Content Governance & Sponsorships Growth Globalization Changing Workforce Why is This Important? Corporate Culture Faculty Location Cultural Intelligence Improve Endurance of Corporate Culture Structured Training Program Main Goal Frequency Implementation Our Environment has Changed: Vertical Development "Change is the law of life. And those who look only to the past or present are certain to miss the future." - President John F. Kennedy
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