The news ageny reports that Goldman plans to announce internally its list of newly appointed partners on November 14th, and its list of new Partner Managing Directors the following day, according to a person familiar with the matter.
In the meantime, MarketWatch reports that UBS isn't planning to spin off its investment banking business, CEO Sergio Ermotti said in an interview with Finanz Und Wirtschaft published Saturday.
'The entire investment banking sector is currently destroying capital, that is a fact. But it's our job to solve problems and not simply sell (something) when things aren't going so well',. Ermotti said.
Finally, The Financial Times reports that Deutsche Bank is seeking to convince rival investment banks to share markets and trading software in an effort collectively to lower costs for the financial industry.
The newspaper says that Deutsche's quest 'underscores the intense pressure banks are under to cut costs as lower markets activity and new rules eat into their profit margins'.
Goldman Sachs to name new partners November 14: source
UBS CEO: No plans to spin off investment bank
Deutsche Bank urges rivals to share IT (Registration required)
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