The investment banking division at Goldman Sachs, which propelled the careers of legendary figures such as former U.S. Treasury Secretary Hank Paulson, is downsizing at a time when CEO pay is increasing and the stock price remains basically flat since 2006.
Goldman cuts managing directors, executive directors and vice presidents in mergers, debt, equity capital markets
The investment banking division was considered by some to be the crown jewel of the organization, deeply steeped in economic history. In 2015, Goldman was the top-ranked merger adviser and the investment banking division was Goldman’s most profitable operating segment. On its web site, the publicly traded company calls the investment banking division...
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