What risk disclosures tell us about Goldman’s problems and Morgan Stanley’s success

8 September 2017/No Comments
By Nick Dunbar

2017 has been difficult for those at Goldman Sachs who are accustomed to being at the forefront of US trading firms. Half-year revenues at Goldman’s fixed income, currencies and commodities division declined 20% year-on-year, accelerating to a 40% decline in the second quarter.

Goldman’s new chief financial officer, Martin Chavez, added to the sense of disquiet when he admitted on a July earnings call that “we didn’t navigate the markets as well as we want to and as well as we typically have”.

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