{"id":404446,"date":"2026-04-30T05:26:08","date_gmt":"2026-04-30T05:26:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/404446\/"},"modified":"2026-04-30T05:26:08","modified_gmt":"2026-04-30T05:26:08","slug":"goldman-sachs-new-zealand-posts-third-straight-loss-as-fees-slump","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/404446\/","title":{"rendered":"Goldman Sachs New Zealand posts third straight loss as fees slump"},"content":{"rendered":"<p class=\"wrLLDwyWye\" style=\"display:none\">The 2025 year was a tumultuous one for the company, with long-time managing director Andrew Barclay leaving the firm in June after a 26-year tenure.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">He was replaced on the GSNZ board by Nathan Bond, formerly the firm\u2019s head of investment banking for New Zealand.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">Barclay has since gone on to found his own consultancy, Barclay &amp; Co, and has been appointed chairman of Television New Zealand.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">Despite the large losses at GSNZ, staff expenses, described as \u201csalaries, bonus payments and other\u201d, increased to $4.5m from $3.5m.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">Payments to key management personnel also increased over the period to $1.4m, from $1.3m.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">GSNZ, which has seen its investment banking revenue decline by 90% over the past six years, has recent mandates for KMD Brands\u2019 capital-raising process and ExxonMobil\u2019s proposal to exit New Zealand.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">GSNZ\u2019s ultimate parent, Goldman Sachs,  this month beat analyst estimates, but still saw its share price decline in April when reporting first-quarter results to the New York Stock Exchange.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">Goldman Sachs\u2019 revenue at its fixed income, currencies and commodities division declined 10% to US$4 billion.<\/p>\n<p class=\"wrLLDwyWye\" style=\"display:none\">Equities-trading, wealth management and investment banking divisions increased, respectively, 27%, 10% and 48%.<\/p>\n<p>Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our <a href=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\">Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"The 2025 year was a tumultuous one for the company, with long-time managing director Andrew Barclay leaving the&hellip;\n","protected":false},"author":2,"featured_media":404447,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[806,916,840,138,12470,14724,208379,69344,305,1426,440,2225,117,111,139,69,26859,1523,4517,45788,18935,7493,208380,208381,8603,10811,3755,102,379,80],"class_list":["post-404446","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-as","tag-banking","tag-behemoth","tag-business","tag-fees","tag-further","tag-goldman","tag-halving","tag-have","tag-investment","tag-local","tag-loss","tag-new","tag-new-zealand","tag-newzealand","tag-nz","tag-operations","tag-over","tag-past","tag-posting","tag-posts","tag-revenue","tag-sachs","tag-shrivelled","tag-slump","tag-straight","tag-third","tag-with","tag-year","tag-zealand"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/404446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=404446"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/404446\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/404447"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=404446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=404446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=404446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}