Goldman Sachs Asia Fund Chairman Bolitho to Leave Company

Oliver Bolitho, chairman of Goldman Sachs Group Inc.’s fund management division in Asia, is leaving after 15 years at the company, according to an internal memo.Bolitho will become an advisory director after his retirement at the end of the year, according to the Nov. 4 memo obtained by Bloomberg. Christopher Jun, a spokesman for Goldman Sachs in Seoul, confirmed the contents of the memo.

Bolitho, a U.K. citizen, served as head of Goldman Sachs’s U.K. and Irish institutional business from 2001 until moving to Hong Kong in 2007 to run the fund business in Asia outside of Japan. A partner since 2008, Bolitho became chairman of Goldman Sachs Asset Management last year. Read more.

Goldman Sachs buys stake in ProQuest

ProQuest said Monday that investment banki Goldman Sachs will buy a minority stake in the research and information company, including the stake held by private equity firm ABRY Partners.

Financial terms of the deal were not announced.

ProQuest, which is based in Ann Arbor, Mich., manages online research solutions used by universities, libraries, schools and corporations. Read more.

Earnings Preview: Bank of America Corp (BAC), Goldman Sachs Group Inc

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This week kicks off third-quarter earnings season in full gear, as reports from financials lead the way. Bank of America, Goldman Sachs and Morgan Stanley will report later this week following Citigroup’s weaker-than-expected results issued on Tuesday.

Citigroup Inc. (NYSE: C) missed Wall Street forecasts after the bank reported net income for the fiscal third-quarter fell to $3.26 billion, compared with $3.27 billion in the same period a year ago, excluding one-time items. Earnings per share came in at $1.02 per share, compared with $1.06 per share a year earlier, and revenue fell to $18.2 billion, compared with $19.2 billion in the same period a year-ago. Read more.

What Goldman’s position on Twitter IPO means

Goldman Sachs on Tuesday reportedly not only won the top spot on the highly anticipated initial public offering but will take home as much as $20 million in fees should the IPO price at the top of its $17-to-$20 estimated range. It’s a lopsided deal in favor of Goldman GS -0.20%  , according to a report on WSJ.com. No other underwriter will get more than $10 million in fees, according to the report.

The deal represents a massive vote of confidence in Goldman from Twitter’s TWTR 0.00%   founders. They obviously looked past the firm’s dented reputation as a “vampire squid” of the mortgage markets in the crisis. GS.

Goldman To Get Up To $20 Mln In Twitter Fees: WSJ

Goldman Sachs Group Inc. could get as much as $20 million in fees from underwriting Twitter's debut as a public company.

According to the Wall Street Journal. Goldman, which is the lead underwriter on the deal, is slotted for 38.5% of the fees, which could translate to as much as $20 million depending on how the shares sell when they start trading. Morgan Stanley is set to get 18% of the fees, followed by smaller proportions for J.P. Morgan Chase & Co. read more GS.

Wall Street Goldman Sachs Tells its New Employees to Work Less

According to Bloomberg News, Goldman Sachs (GS) is encouraging its junior bankers to take weekends off during the grueling early years that typically launch Wall Street careers. The company is doing this, in part, to make itself more attractive to the most talented graduates spilling out of top colleges—a group of people likely to have several job offers to choose among. According to Bloomberg News:

Wall Street firms are working to guard the best recruits from poaching by rivals such as private-equity funds. Goldman Sachs decided last year to stop offering two-year contracts to investment-banking analysts, instead making them full-time employees from the start. It plans to give analysts more-predictable working hours and provide more opportunities to get feedback from managers. read more about Goldman Sachs.

Peter Levy, Goldman Ex-Partner Whose Father Led Firm

Peter A. Levy, a founder of alternative investment funds who carried one of Wall Street’s most famous surnames as the son of Gustave Levy, a former senior partner of Goldman, Sachs & Co., has died. He was 77.

He died on Oct. 18 in Palm Beach, Florida, according to his daughter, Dany Levy. The cause was cancer.

Following his career at Goldman Sachs, starting as a floor broker at the New York Stock Exchange and rising to partner, Levy joined colleagues Robert Friedman, former Goldman Sachs chief financial officer, and Ronald Tauber, former chief operating officer of the investment bank’s J. Aron & Co. division, in creating investment funds.read more.