Goldman Sachs to cut 30% of Investment Bankers in Asia

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Goldman Sachs (GS) has  long been regarded as a leader in the financial services sector. Bloomberg reports that the company is looking to reduce 30% of its Asian Investment Banking (IB) team.  GS’s Return on Equity (ROE) can be seen here. They are 1/3rd of those at the peak in FY2007. ROE measures a corporation’s profitability by revealing how much profit a company generates with the money shareholders have invested.

gs-roe

Looking at other juggernauts Deutsche Bank is awful on any measure. It has been on a long term slide since the blow up during GFC

DB ROE.png

Even National Australia Bank with its tail up on housing in Australia has not exactly seen ROE improve.

nab-roe

In Japan,  Mitsubishi  UFJ Financial Group has not set the world on fire.

mufg-roe

While central banks keep running the line that things are “pleasing”, financial services companies aren’t feeling the love.

 

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