Goldman Winding Down Hedge Fund Unit

Nov 12 2013 | 11:17am ET

Goldman Sachs CEO and chairman Lloyd Blankfein says his firm is set to comply with the Volcker rule and is winding down its hedge fund unit.

Speaking at the Bank of America conference on Tuesday, Blankfein said the firm will also begin harvesting private equity but that investment banking will remain its primary focus.

The Goldman CEO said clients would continue to demand some services prohibited under Volcker, reports CNBC, and that, while Goldman would still be permitted to co-invest with and provide liquidity to it investors, key businesses would no longer be as attractive as they once were.

The Volcker rule, named for former Federal Reserve chairman Paul Volcker, forbids banks from doing their regular business (loans, mortgages, etc.) while trading on their own behalf.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Nicky Hilton To Wed James Rothschild

Aug 20 2014 | 5:23am ET

When it comes to husband-material, socialite Nicky Hilton is sticking with finance...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note