Relatively Strong Results in Brexit Quarter Don’t Mean All Is Clear for Goldman Sachs
Goldman Sachs’ second-quarter net revenue of $7.9 billion was the highest reported in the last year, but an annualized return on equity of 8.7% for the quarter demonstrates how poor the environment has been. While the markets were relatively open with Brexit having occurred at the end of the quarter, Goldman was able to book $1.8 billion of investment banking revenue, 9% higher than its 12-quarter trailing average. The effect of Brexit on trading volumes and quick recovery in asset prices led to...Goldman Sachs Group is a bank holding company and financial holding company. The company is a global investment banking, securities and investment management firm that provides a range of financial services to corporations, financial institutions, governments and individuals. The company operates in four business segments: Investment Banking, which serves public and private sector clients and provides financial advisory services; Global Markets, which serves its clients who come to the company to buy and sell financial products, raise funding and manage risk; Asset Management, which provides investment services; and Consumer & Wealth Management, which provides a range of wealth advisory and banking services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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