Goldman Sachs hires from rivals to expand in mid-market deals
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2024
0mins
Source: reuters
- Goldman Sachs Hires Investment Bankers: Goldman Sachs has hired two investment bankers, Kerry Burke and Eddie Rubin, from Evercore and Lazard, respectively, to focus on advising deals worth up to $2 billion.
- Diversification of Revenue Streams: The move is part of Goldman's strategy to diversify revenue by advising on smaller transactions in addition to mega deals.
- Creation of Cross Markets Group (CMG): In 2019, Goldman established the CMG unit led by David Friedland to increase its share of fees from advising on smaller acquisitions.
- Focus Industries and Team: The CMG unit covers five industries and is staffed by 200 employees, including 10 senior bankers leading different sectors.
- Trend in Investment Banking: Boutique investment banks have been aggressively hiring top dealmakers, creating opportunities for larger banks like Goldman to capture mid-market deals and generate fees.
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Analyst Views on LVS
Wall Street analysts forecast LVS stock price to rise
14 Analyst Rating
10 Buy
4 Hold
0 Sell
Moderate Buy
Current: 53.880
Low
56.89
Averages
69.12
High
80.00
Current: 53.880
Low
56.89
Averages
69.12
High
80.00
About LVS
Las Vegas Sands Corp. is a global developer and operator of destination properties (Integrated Resorts). The Integrated Resorts feature accommodations, gaming, entertainment and retail malls, convention and exhibition facilities, celebrity chef restaurants and other amenities. Its properties also cater to high-end players by providing them with luxury amenities and premium service levels. Its other amenities include luxury accommodations, restaurants, lounges, invitation-only clubs and private gaming salons. Its principal operating and developmental activities occur in two geographic areas: Macao and Singapore. In Macao, it owns The Venetian Macao Resort Hotel; The Londoner Macao; The Parisian Macao; The Plaza Macao and Four Seasons Macao, and Sands Macao. In Singapore, it owns Marina Bay Sands. It also has ferry operations. It owns and operates a collection of Integrated Resorts in the Macao Special Administrative Region of the People's Republic of China (PRC) through Sands China Ltd.
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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- Cultural Heritage Display: The booth featured precious firecracker packaging labels from the 'Century of Iec Long Firecracker Factory,' captivating international audiences and highlighting the global appeal of Macao's cross-generational culture, further solidifying the city's cultural heritage.
- Community Engagement Activities: Sands China arranged art tours for representatives from four NGOs in Macao, allowing participants to experience the international art event firsthand, promoting inclusivity of art within the Macao community and enhancing public appreciation of art.
- Academic Exchange Seminar: Sands Gallery invited Professor Ung Vai Meng from the Macau University of Science and Technology to host a seminar on firecracker aesthetics, delving into the history and aesthetics of the firecracker industry, which sparked enthusiastic discussions among attendees and deepened international audiences' understanding of Macao's culture.
See More
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- Successful International Art Event: Sands China concluded its exhibition at Art Central in Hong Kong on March 29, attracting strong interest from international gallery representatives, collectors, and artists, showcasing works by three young Macao artists and fostering cross-cultural exchanges.
- Emerging Macao Artists: The booth featured works by Macao artists Lei Leng Wai, Leong Chi Mou, and Dor Lio Hak Man, highlighting the creative potential of emerging artists from Macao and enhancing the region's status on the international art stage.
- Cultural Exchange Activities: The display included a precious collection of firecracker packaging labels from the exhibition “A Century of Iec Long Firecracker Factory in Radiance,” captivating a wide international audience and demonstrating the global appeal of Macao's cross-generational culture.
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- Historical and Modern Fusion: The booth features the exhibition 'A Century of Iec Long Firecracker Factory in Radiance,' which presents the history and aesthetic memory of Macao firecrackers, enhancing visitors' understanding and appreciation of Macao's culture.
- Artist Spotlight: Featured artists Lei Ieng Wai, Leong Chi Mou, and Dor Lio Hak Man represent the innovation and development of contemporary art in Macao, drawing attention and acclaim from international audiences.
- Cultural Exchange Platform: This exhibition not only showcases Macao's artistic achievements but also provides a bridge for Macao artists to engage with the international art community, fostering cultural exchange and collaboration.
See More
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- Cultural Exchange Platform: Since its establishment in 2022, Sands Gallery has been committed to fostering cultural exchanges between Macao and the international art community, further solidifying its role as a cultural portal for Macao and helping local artists expand into global markets through this exhibition.
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- Artists' Voices: Participating artists expressed that the support from Sands Gallery has enabled them to present their works on an international stage, promoting the global dissemination of Macao's art and emphasizing the importance of art as a bridge for cultural exchange.
See More
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- Coca-Cola vs. PepsiCo: Over the past five years, Coca-Cola's stock has risen by over 46%, while PepsiCo's has only increased by 9%, indicating Coca-Cola's strong market performance; PepsiCo is now divesting lagging brands and prioritizing healthy products to seek growth.
- McDonald's Value Repositioning: McDonald's has underperformed over the past three years, but by emphasizing low-priced options and increasing investment in in-store technology, it is expected to improve unit economics, with dividend growth projected to average 9% annually over the next decade, providing inflation protection for shareholders.
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