Goldman Sachs Legal Chief Resigns Amid Scandal
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy GS?
Source: Benzinga
- Executive Resignation: Goldman Sachs' legal chief Kathryn Ruemmler plans to resign in June following the revelation of her connections to Jeffrey Epstein, indicating significant internal pressure and dissatisfaction within the company.
- Stock Volatility: Goldman Sachs' stock has experienced fluctuations due to the news of Ruemmler's resignation, reflecting market concerns over corporate governance and reputation, which may impact investor confidence.
- Internal Confusion: Despite Ruemmler's prominent appearance at a partner meeting last week suggesting job security, internal sources indicate executives are divided on handling the scandal, viewing it as a damaging distraction for the bank.
- CEO Support: Goldman CEO David Solomon issued a memo praising Ruemmler as an “extraordinary” asset to the company, demonstrating recognition of her contributions despite the ongoing scandal.
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Analyst Views on GS
Wall Street analysts forecast GS stock price to fall
13 Analyst Rating
6 Buy
7 Hold
0 Sell
Moderate Buy
Current: 904.550
Low
604.00
Averages
848.09
High
1048
Current: 904.550
Low
604.00
Averages
848.09
High
1048
About GS
The Goldman Sachs Group, Inc. is a global financial institution that delivers a range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Its segments include Global Banking & Markets, Asset & Wealth Management and Platform Solutions. The Global Banking & Markets segment offers a range of services, including financing, advisory services, risk distribution, and hedging for its institutional and corporate clients. It facilitates client transactions and makes markets in fixed income, equity, currency and commodity products. The Asset & Wealth Management segment manages assets and offers investment products across all asset classes to a diverse set of clients. It also provides investing and wealth advisory solutions. The Platform Solutions segment includes consumer platforms, such as partnerships offering credit cards and point-of-sale financing, and transaction banking and other platform businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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