Goldman Sachs Has a Plan For Its Misfiring Bond Business – Business Insider
September 15, 2017 \ 1 Comment
Full Article: Business Insider
Schwartz provided some rarely seen detail on sales performance by client type. Sales credits are down heavily for hedge funds. Given hedge funds make up almost a quarter of Goldman Sachs’ sales credits, that’s a problem for the bank.
GS has always given heavy weight to the derivatives side of the FICC business. Today, many of its derivative stars hold key seats dictating the direction of the FICC businesses. I wonder if GS has the internal DNA to increase its penetration in the asset manager/corporate space
Interestingly, there was an FT article a few weeks ago talking about the new GS algo in credit. Making several thousand automated odd lot markets has yet to prove a winning strategy to institutionally scale business for anyone in the credit space. I hope that isn’t part of the new strategy.
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