Palace coup

Article Abstract:

Goldman Sachs' co-chief executive, Jon Corzine, has left the post, and a new executive-management structure has been set up by other executive committee members. The bank's trading losses weakened Corzine's position, according to a senior partner from the bank. The relations between Corzine and co-chief executive Hank Paulson may also be related to Corzine's departure. Internal conflict could still arise at the bank due to Corzine's treatment and perceptions of its implications for Goldman Sach's trading arm.

United States, Goldman Sachs and Co.

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Punch-drunk: NatWest

Article Abstract:

NatWest announced it was scaling back acquisition plans for its investment bank NatWest Markets (NWM). Martin Owen, CEO of NWM, resigned amid shareholder unhappiness with the bank's management. There are rumours that NatWest may be a takeover target.

Offices of Bank Holding Companies, Bank holding companies, Banking industry, National Westminster Bank PLC (London, England), NatWest Markets

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