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TOPGUN BANK TRENDS 2011: ALL THAT GLITTERS IS NOT GOLDMAN

August 5th, 2011 by TopGun Press

05Aug2011: The BRENDAN WOOD INTERNATIONAL ratings by global professional investors showed that, in trading rankings, Goldman Sachs was behind only two giant banks, Citigroup and Bank of America/Merrill Lynch. But they also showed that Goldman will have new work cut out for it, if hoping to become a pack leader in investment banking, especially for research analysts, ranked only 9th worldwide and 7th in the U. S.:

Investor Ranking of Top Five Banks for Research Teams ‘Voted to Pay’

Global
JP Morgan
Bank of America Merrill Lynch
Morgan Stanley
Credit Suisse
UBS

U.S.
JP Morgan
Sanford Bernstein
Morgan Stanley
Citigroup
Credit Suisse

Goldman Sachs remained higly profitable, reporting over $4 billion in pretax earnings in the first quarter. But it has not done so as an ‘investment bank’ as that term was understood. Less than a tenth of recent earnings came from underwriting issues and other traditional i-bank activities, most of the rest from trading.

The firm now has to overcome the recent damage to its overall reputation, and the extent to which financial regulation is lowering trading profits in general, 60% in 2010 for Goldman. Investment banking fees, on the other hand, were up 7%, and even Lloyd Blankfein, trader par excellence, will now be looking to raising these a great deal higher.

Blankfein may also have to persuade his partners, shareholders, and clients that his undoubted trading talents are what his firm now needs at the top.

For further information, contact Stewart Borden, sborden@brendanwood.com, or Johann Rodrigues, jrodrigues@brendanwood.com.

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