Goldman Sachs closes its sales department
The Investment Bank Goldman Sachs has decided to close one of its main divisions, which takes care of its own trading account in securities. Communication comes after the end of July, Congress approved the largest financial sector reform in the U.S. from the years since the Great Depression. Took a similar decision this week and JPMorgan, announcing the brokers in the marketing division with equity, it will be closed due to the changes in the regulation of the financial sector. Trading for own account involves the use of equity capital for transactions in securities. Its share of the operations of both banks declined significantly in recent years at about 10 percent of the revenues of Goldman Sachs. Investment banks and large companies in the U.S. came under fire from the public last year, so that caused the financial crisis of 2008 with excessive risks not make in mourning for its own account. Bill Dodd-Frank on financial reform, which was signed by U.S. President Barack Obama this summer, limiting banks risking equity through transactions on their account.
The financial companies in the U.S. have four years to comply with the requirements set out in the broader financial reform.
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