Results tagged “Goldman Sachs”

The bank holiday is looming but it won't be a relaxing weekend for some Wharfers as they take part in a gruelling annual fundraiser.

The Enduro Challenge starts this Friday, when five teams from the financial services industry compete in the epic triathlon from London to Paris.

The Financial Services Authority has slapped a £17.5million fine on Goldman Sachs International for failing to inform it about a US fraud investigation.

The FSA, based in Canary Wharf, announced the fine this morning after a five month inquiry into "weaknesses" in Goldmans' reporting controls.

The fallout from the banking crisis has thrown the industry's problems into stark relief, not least regulation.

The British Government has vowed to crack down on the return of excessive bonuses and risky practices that precipitated the credit crunch, but implementing tighter unilateral regulation could be difficult.

Chancellor of the Exchequer Alistair Darling was in Canary Wharf this morning and used the opportunity to criticize the return of the bonus culture.

Mr Darling singled out Goldman Sachs, which reported bumper profits last week, saying it sent out the "wrong signals" with huge pay awards.

HSBC is giving Tower Hamlets youngsters something other than money to bank on after signing up for a mentoring scheme.

Volunteers from the Canary Wharf-based bank have stepped in to offer careers advice and guidance to 60 students from Stepney Green school.

Goldman Sachs has groomed politicians, more than one treasury secretary, and more than a few millionaires. But the history of the 139-year-old Wall Street giant has long been shrouded by "a near fetish for no publicity".

The Wharf meets Charles D Ellis, the man who painstakingly uncovered Goldman's inside story.