Goldman Sachs axes 25 investment bankers in Asia: report

Those affected are majorly junior level bankers involved in Greater China deals.

Goldman Sachs has reportedly axed at least 25 investment bankers in Asia, reports Bloomberg, citing anonymous sources.

The cuts span the bank’s equity capital markets, health care and telecommunication, media and technology teams in Asia, the people said, who have asked not to be identified as the matter is confidential.

Those affected are majorly junior level bankers involved in Greater China deals.

ALSO READ: UNO Digital Bank sets its sights on being Filipinos' top virtual bank

“Every year globally we conduct a strategic assessment of our resources and calibrate headcount to the current operating environment,” a spokesman said in an email, without commenting on the extent of cuts. “We continue to remain flexible while executing against our strategic growth priorities.”

The cuts in investment banking are deeper than for the securities division after dealmaking in China ground to a near halt this year as Covid lockdowns and rising political tension hinder the economy, one of the people said.

Here’s more from Bloomberg.

Follow the link for more news on

Goldman Sachs

Also Read

Mizuho expands mid-term finance emission targets

China’s investment banking fees drop 25% in 9M 2024

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit