What the perfect Goldman Sachs career looks like
Such is the stamina of John S. Weinberg, who was co-head of Goldman's investment bank from 2001 until late last year. Weinberg joined Goldman as an associate in 1983. He was promoted to partner in 1992 and has managed to hang on a (remarkable) 23 years in that position when the average tenure of a partner is closer to eight years.
It helps that Weinberg was Goldman's ultimate 'culture carrier.' It helps too that he's chummy with some of the firm's, "most important clients." And it helps that he's as close to Goldman royalty as you can get: he's the son of John L. Weinberg, a former chairman of Goldman's management committee, and the grandson of Sidney Weinberg who was Goldman CEO from 1930 to 1969.
After 32 years at Goldman Sachs, John S. isn't even retiring - he's becoming a 'senior director.' Lloyd Blankfein and Gary Cohn both said they're very pleased with this outcome. Longer term, it can only be a matter of time before a new generation of Weinbergs moves in to keep the dynasty alive.
From Banking to Hedge Funds (eFinancialCareers)
Investment banking trader looking to switch into a hedge fund job? It’s not an easy move – this is how you need to change your resume.
Heavily-armed New Starters (eFinancialCareers)
Morgan Stanley’s new analyst class has just started. Here’s a look at the impressive individuals who secured the jobs.
A Terrible Joke (Sun)
HSBC ran a bonding day for some of its 'bankers' in Birmingham, UK. They dressed up in orange jumpsuits and performed a mock IS-style execution on an Asian co-woker and posted it on Instagram. They were fired.
Looking After Shareholders (WSJ)
Goldman Sachs has got a new M&A 'shareholder advisory group' to deal with activist and defensive M&A deals.
A Step Up (Reuters)
Citi just promoted Michael Lavelle to head of UK and Ireland corporate and investment banking and vice chairman of EMEA CIB. Lavelle has been with the bank for 19 years. (Reuters)
Code Breakthrough (NYT)
The man accused of stealing code from Goldman Sachs is free, again. "It feels great." (NYT)
Risky Business? (Dealbreaker)
Billy Joel just married a former risk manager from Morgan Stanley.
Data Feast (Trade News)
MiFID II is creating big opportunities for data professionals.