高盛用人唯才，精英云集。我们深信，通力合作、团体精神和正直诚信会为我们的员工营造良好的环境，从而为我们的客户创造最佳 的业绩。 申请方法： 北京 Global Banking & Markets 1. 点击阅读原文，或者扫描下方二维码访问高盛招聘官网 2. 搜索职位代码，根据职位页面提示进行申请 Investment Banking, Administrative Assistant - 140084 Asset & Wealth Management Engineering 上海 Asset & Wealth Management Asset Management Private, Private Equity Investing, Analyst/Associate - 140415 Private Wealth Management, Private Wealth Advisor, Vice President - 137932 Operations Engineering 深圳 Asset & Wealth Management Private Wealth Management, Private W ...

Technology Fellow 计划，或简称 Tech Fellow , 是高盛内部跨部门的技术工程师所组成的社群，在公司内享有盛誉且具有影响力。 他们通常拥有深厚的技术知识和丰富的经验，被公认为各自领域的专家，在推动公司的技术战略、实施创新和尖端解决方案方面经 常发挥着关键作用。 适逢妇女节，我们专访了三位常驻高盛大中华区办公室的女性Tech Fellow，走进她们的金融科技职涯，了解她们的业务及日常生活。 熊巧丽 Lily 常駐北京 高盛的Technology Fellow计划以及它对你和你的团队的意义 "Tech Fellow"旨在培养一批顶尖的技术专家，以推动创新并提升高盛的技术标准。Tech Fellow通常是经验丰富的资深工程师，能 够为大规模的企业工程项目提供可靠的指导和建议。计划的评估标准包括技术创新能力、领导力及影响力、培养技术人才的能力 以及对公司整体的商业影响力。 Tech Fellow在公司内部享有极高的声誉。我很荣幸能够加入这个小组——从而有更多渠道与全球的技术专家联系，也有更多的机 会获得关于中国项目和设计的直接反馈。 给渴望在高盛展开职涯的技术人才的建议 高盛为同事们提供了施 ...

Company Overview - Goldman Sachs (GS) is headquartered in New York and has experienced a price change of 1.49% this year [3] - The company currently pays a dividend of $6 per share, resulting in a dividend yield of 2.06%, which is significantly higher than the Financial - Investment Bank industry's yield of 0.85% and the S&P 500's yield of 1.57% [3] Dividend Performance - Goldman Sachs has an annualized dividend of $12, reflecting a 4.3% increase from the previous year [4] - Over the past five years, the company has increased its dividend four times, achieving an average annual increase of 24.53% [4] - The current payout ratio is 30%, indicating that the company distributes 30% of its trailing 12-month earnings per share as dividends [4] Earnings Growth Expectations - For the fiscal year, Goldman Sachs anticipates solid earnings growth, with the Zacks Consensus Estimate for 2025 projected at $47.12 per share, representing a year-over-year growth rate of 16.23% [5] Investment Appeal - Goldman Sachs is viewed as an attractive dividend play and a compelling investment opportunity, currently holding a Zacks Rank of 1 (Strong Buy) [7]

Core Insights - Parexel, a leading clinical research organization (CRO), appointed Jeff Bernstein to its Board of Directors effective March 5, 2025, succeeding Michael Bruun as part of a planned rotation [1][5] - Bernstein's extensive experience in healthcare investment and public company board service is expected to enhance Parexel's strategic roadmap and growth objectives [2][3] Company Overview - Parexel is among the largest CROs globally, providing comprehensive Phase I to IV clinical development services aimed at expediting life-saving treatments to patients [4] - The company employs over 21,000 professionals and collaborates with biopharmaceutical leaders and emerging innovators to design and deliver clinical trials [4] - Parexel has received multiple industry recognitions, including the 2024 and 2023 SCRS Eagle Award and being named "Best Contract Research Organization" in November 2023 [4] Leadership Transition - Michael Bruun, who served on the board for two years, is recognized for his contributions, and the company expresses gratitude for his leadership [2] - Jeff Bernstein's background includes serving on various healthcare boards and a strong educational foundation in Economics and Finance from Princeton University [3] Strategic Focus - The appointment of Bernstein aligns with Parexel's commitment to leveraging unique insights and driving best-in-class delivery to achieve market-leading growth in 2025 [2][5] - The company aims to innovate and differentiate itself in the CRO space, enhancing its position and accelerating the delivery of new therapies to patients globally [4]

Core Insights - Goldman Sachs is shifting its annual headcount reduction process from fall to spring, focusing on vice presidents for potential cuts [1][8] - The bank's Strategic Resource Assessment (SRA) aims to identify and remove underperformers, with a target of reducing 3% to 5% of its workforce this year [5][8] - CEO David Solomon emphasized the importance of operating efficiency and cost management in a recent investor call, outlining a three-year program to optimize expenses and expand in strategic locations [4] Workforce Management - The annual talent management process includes a performance review system where employees are rated by peers and managers, with the bottom 10% being most vulnerable to layoffs [6] - The current headcount at Goldman Sachs is approximately 46,500 employees, meaning potential layoffs could range from 1,395 to 2,325 positions based on the targeted percentage [5] Organizational Changes - The focus on vice presidents is due to an increase in their numbers, leading to a situation where VPs are reporting to other VPs rather than managing directors [3] - The bank is also considering transferring some VPs to other offices as a cost-saving measure [3]

Core Viewpoint - Goldman Sachs plans to cut 3% to 5% of its staff, amounting to approximately 1,395 jobs, as part of its annual talent management process, which is larger than previous reductions [1][3] Group 1: Layoff Plans - The planned layoffs are part of Goldman Sachs' normal annual review process, which typically results in workforce reductions of 2% to 7% depending on financial outlook and market conditions [1][2] - Despite the layoffs, Goldman Sachs expects its total headcount to be higher at the end of 2024 compared to 2023 [2] Group 2: Financial Performance - Goldman Sachs experienced a decline in deal-making and exited a consumer business, leading to several rounds of workforce reductions in 2023 [3] - The bank reported a three-year high in quarterly profits in January, with year-over-year revenue gains of 33% in Global Banking & Markets, 8% in Asset & Wealth Management, and 16% in Platform Solutions [4] - The growth in revenues was attributed to higher net revenues in equity and debt underwriting, as well as intermediation and financing in the Global Banking & Markets business [5] Group 3: Market Outlook - CEO David Solomon noted a meaningful shift in CEO confidence following the U.S. election, with an increased appetite for deal-making supported by an improved regulatory environment [6] - There is a significant backlog from sponsors, which is expected to spur further activity in 2025 [6]

高盛研究部早前预计， 2035年全球人形机器人市场或将达到380亿美元的规模 。人工智能加速演进、技术突破、研发及资本支出投资加大，进一步 推动人形机器人市场的发展。 从目前的进展来看， 行业可能在2025年从研发阶段步入量产阶段 。众多供应链上市公司，尤其在亚洲，已公开披露了进军或进一步推进人形机器人相关 业务的计划。高盛研究部认为一个 全方位的生态系统正在成型 ，在我们的基本情景假设下，迅速增长的全球人形机器人需求到2035年可能释放380亿美 元的潜在市场规模。此外，考虑到人形机器人仍处于早期发展阶段且存在各种潜在技术方案，我们认为 竞争格局将持续演进 。 高盛研究部认为 供应链零部件仍最具吸引力 。团队推出了 高盛独家产品品类偏好排名(GS proprietary product category preference rank) ，以评估我们在 人形机器人供应链覆盖范围内的主要投资机会。我们 更看好谐波减速机供应商和执行器总成商 ，因其技术壁垒更高，或产品被采用的确定性更强。 2. 市场已经计入了哪些因素？ 高盛研究部所覆盖的人形机器人供应链股年初至今 已平均上涨48% （沪深300指数持平），这表 ...

Core Viewpoint - Goldman Sachs has demonstrated strong performance in the financial services industry, with significant stock price appreciation and robust revenue growth, particularly in investment banking and investment management [1][2][3]. Financial Performance - In 2024, Goldman Sachs reported total revenue of $53.5 billion, a 16% increase from the previous year, following a 2% decline in 2023 [2]. - Net interest income surged by 27%, contributing to a 68% increase in net income for 2024 [3]. - The company is projected to grow its earnings per share at a compound annual rate of 12% over the next three years, surpassing its trailing 10-year average of 9% [7]. Market Position and Opportunities - Goldman Sachs ended the year as the No. 1 M&A advisor, indicating strong positioning in investment banking [2]. - The company is optimistic about future prospects, citing potential catalysts for continued activity in the financial markets [3]. - The launch of a Capital Solutions Group aims to capitalize on opportunities in private credit and private equity, enhancing the bank's ability to serve clients [6]. Valuation and Stock Performance - As of February 26, shares were trading at a price-to-earnings ratio of 15.3, which is considered historically expensive [9]. - Despite impressive five-year stock returns, expectations are high, and the current valuation may limit future returns for new investors [10][11].

Core Insights - Goldman Sachs shares have increased by 186% over the past five years, with a total return of 219% including dividends, significantly outperforming the S&P 500 [1] - The stock is currently trading 7% below its peak price, indicating ongoing positive momentum and optimism from investors regarding the company's future prospects [1] Strategic Decisions - In 2016, Goldman Sachs launched Marcus to enter the consumer banking sector, aiming to diversify revenue streams, but the initiative was ultimately unsuccessful and was dismantled [2] - The failure of Marcus may have redirected management's focus back to the company's strengths in high-end Wall Street activities, such as deal-making and serving ultra-high-net-worth clients [3] Business Focus - Goldman Sachs is expected to concentrate on its core competencies, including being a top M&A advisor, leading equities franchise, and a dominant player in fixed income, commodities, and asset management [5] Financial Performance - In 2024, Goldman Sachs reported a 16% increase in total revenue and a 68% rise in net income, marking a strong financial year [6] - The company anticipates continued positive catalysts, including an improving economic environment, potential lower interest rates, deregulation, and increased CEO confidence [7] Market Outlook - The favorable economic backdrop is expected to enhance opportunities for initial public offerings and M&A activity, providing additional revenue streams for Goldman Sachs [8] - Despite the positive outlook, the unpredictability of macroeconomic factors and regulatory developments remains a consideration [8] Valuation Considerations - Goldman Sachs is recognized as a high-quality business with strong fundamentals and leadership in various capital markets [9] - The current price-to-earnings (P/E) ratio stands at 15.3, which is historically high, having increased by 48% since February 2020, suggesting that the stock may not be a smart buying opportunity until the P/E ratio approaches 10 [10][11]

Financial Performance - Goldman Sachs reported a significant increase in revenues from Global Banking & Markets, driven by strong performance in investment banking fees and intermediation activities [16]. - The firm generated substantial revenues from investment banking fees, including equity underwriting and advisory services, maintaining a leading position in worldwide public common stock offerings [25]. - FICC intermediation activities contributed notably to revenues, with a focus on interest rate products, credit products, and commodities [28]. - The majority of revenues in Asset & Wealth Management come from asset-based fees, which are influenced by investment performance and client asset inflows [40]. - Consumer platforms generate revenues primarily from net interest income on credit card lending activities, with a transition of the GM credit card program expected by Q3 2025 [42]. Client Engagement and Services - Goldman Sachs maintains a diverse client base, including corporations, financial institutions, governments, and individuals, ensuring a broad revenue stream [13]. - The firm is focused on expanding its consumer platforms and transaction banking services within its Platform Solutions segment [16]. - Goldman Sachs is committed to maintaining long-term relationships with institutional clients, facilitating transactions across various asset classes [18]. - Asset & Wealth Management manages client assets across various strategies, including equity, fixed income, and alternative investments, with a focus on fiduciary management [34][35]. Technology and Innovation - Goldman Sachs continues to invest in technology platforms like Marquee to enhance client connectivity and trading capabilities [22]. - The company aims to advance sustainable economic growth and financial opportunity through its One Goldman Sachs initiative, promoting comprehensive service delivery [13]. Sustainability Initiatives - Goldman Sachs aims to deploy $750 billion in sustainable financing, investing, and advisory activity by the beginning of 2030, having achieved over 80% of this goal as of December 2024 [69]. - The firm has been carbon neutral in its operations and business travel since 2015 and has expanded its carbon commitment to include its supply chain [70]. - Goldman Sachs' sustainability strategy focuses on two priorities: Climate Transition and Inclusive Growth, with efforts to help clients decarbonize and support sustainable economic growth [65]. - The firm has established a Sustainable Banking Group to provide analysis, advice, and capital solutions for clients focused on sustainability objectives [66]. Employee Engagement and Welfare - Over 1,300 employees achieved Mental Health First Aid certification, surpassing the goal of training 1,000 by the end of 2024 [58]. - Approximately 103,000 hours of service were volunteered globally by employees through the Community TeamWorks initiative in 2024 [56]. - The company offers a minimum of 20 weeks of parental leave and up to four weeks of family care leave to support employee wellness [57]. - As of December 2024, Goldman Sachs had a headcount of 46,500 employees, with 50% in the Americas, 20% in EMEA, and 30% in Asia [61]. - 43% of Goldman Sachs employees were working in strategic locations as of December 2024, enhancing the firm's capabilities [63]. Regulatory Environment - Goldman Sachs faces intense competition in the financial services industry, with pressure to retain market share and commit capital to businesses [73]. - The firm is subject to extensive regulation and supervision worldwide, impacting its competitive position and operational practices [82]. - GSBE is directly supervised by the European Central Bank (ECB) and is subject to various E.U. regulations, including the E.U. Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD) based on Basel III standards [91][97]. - The capital conservation buffer requirements for Group Inc. consist of a 2.5% buffer, a stress capital buffer (SCB), and both a countercyclical buffer and the G-SIB surcharge [99]. - The Liquidity Coverage Ratio (LCR) for Goldman Sachs and GS Bank USA is set at a minimum of 100%, ensuring adequate levels of high-quality liquid assets [116]. Risk Management - The company emphasizes risk management across its business segments, including market, credit, and operational risk management strategies [20]. - The SCB applies to BHCs with total consolidated assets of $100 billion or more, reflecting stressed losses estimated under the CCAR stress tests, with a 2.5% floor effective annually [123]. Market Competition - Price competition has intensified in investment banking, market-making, and asset management, affecting trading commissions and bid/offer spreads [77]. - The firm competes with a range of financial institutions, including investment banks, commercial banks, and fintech companies, based on transaction execution, client experience, and innovation [73].