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Hedge funds have significantly increased their buying of US stocks following the presidential election, marking a notable shift after months of caution. Recent data from Goldman Sachs indicates that gross trading activity surged, primarily driven by a rise in long positions as funds covered short bets across large-cap and small-cap exchange-traded funds.
Goldman Sachs has appointed two German nationals as partners, marking the highest number of promotions in over a decade. Axel Hoefer, head of industrial banking for Europe, the Middle East, and Africa, and Jans Meckel, co-head of EMEA fixed income currencies and commodities derivatives origination, join the elite ranks of executives. This move reflects the bank's strategy to enhance its business presence in Germany.
Swiss Finance Minister Karin Keller-Sutter and UK counterpart Rachel Reeves discussed the implications of Donald Trump's election victory on banking regulation, emphasizing the need for a balance between competitiveness and stability. Following Trump's win, bank shares surged, while Keller-Sutter proposed stricter capital requirements for major banks, including a potential $25 billion increase for UBS, which is resisting the move due to high associated costs.
Goldman Sachs has promoted three Japanese nationals to partner, marking the highest number of promotions in over a decade, driven by a resurgence in local financial markets. Kazuya Iketani, co-head of Japan fixed income, currencies and commodities, joins Kosuke Kurosawa, who manages Japan equity and fund core structuring, and Teppei Takanabe, head of the financial institutions group in Japan.
Goldman Sachs has promoted 95 executives to its partnership, marking the largest increase since David Solomon became CEO in 2018. This surpasses the previous high of 80 promotions in 2022, as the firm continues its biennial tradition of elevating select individuals to its top ranks.
Joerg Kukies, a former Goldman Sachs executive, has been appointed as Germany's new finance minister, continuing a trend of Goldman alumni in top economic roles across G7 nations since early 2006. This appointment reinforces the influence of the investment bank in global economic policymaking.
Donald Trump's election victory has temporarily eased the path for new European stock sales, yet uncertainties regarding tariffs and policies pose risks for the region's future. Spanish utility Cox Abg Group SA and Croatian grocery chain Studenac Group SA are moving forward with initial public offerings, aiming to list before the year-end. Meanwhile, Goldman Sachs is marketing shares in CVC Capital Partners Plc following its inclusion in a global index.
The re-election of Donald Trump has led to a historic surge in US bank stock prices, with Morgan Stanley, Goldman Sachs, and JP Morgan seeing significant gains. The prospect of tax cuts and reduced regulations, alongside Republican control of Congress, has fueled optimism on Wall Street, resulting in the S&P 500's largest post-election jump in a century. UBS and other Swiss banks also benefited, as the potential for relaxed regulations in the US may influence capital adequacy rules in Switzerland.
Stefan Bollinger has been appointed as the new CEO of Julius Baer, succeeding Philipp Rickenbacher, who stepped down in February. Bollinger, previously co-head of private wealth management at Goldman Sachs, brings three decades of international experience in financial markets. His leadership aims to position Julius Baer as a leading private bank, focusing on sustainable growth and enhanced risk management.
Asia-Pacific markets showed mixed results following Donald Trump's election victory, with Taiwan's economy minister indicating support for companies relocating production from China due to anticipated tariffs. The Philippines' GDP growth slowed to 5.2% in Q3, while China's exports surged 12.7% in October, despite a decline in imports. Electric vehicle stocks faced pressure, particularly after Trump's win, with analysts noting potential benefits for traditional automakers like Ford and GM under a less stringent regulatory environment.
The Goldman Sachs Group, Inc.
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11:18 08.11.2024
10:39 08.11.2024
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07:48 08.11.2024
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The Goldman Sachs Group, Inc.
HKG
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Teppei Takanabe
Kosuke Kurosawa
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03:37 08.11.2024
20:52 07.11.2024
17:55 07.11.2024
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17:50 07.11.2024
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07:19 07.11.2024
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Colm Kelleher
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05:02 07.11.2024
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CHN
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TWN
Donald Trump
Michael Feroli
Sarah Min
Scott Schnipper
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00:40 07.11.2024
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