logo
Goldman Sachs names Raghav Maliah global chairman of investment banking, memo shows

Goldman Sachs names Raghav Maliah global chairman of investment banking, memo shows

Reuters14 hours ago
HONG KONG, July 2 (Reuters) - Goldman Sachs (GS.N), opens new tab on Wednesday named Raghav Maliah chairman of investment banking, a global position in addition to the banker's regional investment banking roles, according to a memo from the bank.
A spokesperson for the bank confirmed the contents of the memo.
Raghav will continue to serve as co-head of mergers & acquisitions in Asia Pacific, and head of the Technology, Media, and Telecommunications Group in Asia Pacific Ex-Japan, the memo shows.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Microsoft to cut 9,000 jobs as chatbots take over
Microsoft to cut 9,000 jobs as chatbots take over

Telegraph

time30 minutes ago

  • Telegraph

Microsoft to cut 9,000 jobs as chatbots take over

Microsoft is cutting 9,000 jobs as executives order staff to delegate more work to artificial intelligence (AI). The $3.6 trillion (£2.7 trillion) technology giant will shed 4pc of its workforce, it confirmed on Wednesday, with redundancies hitting divisions including its Xbox arm and King, its mobile games studios. The job losses follow a round of cutbacks in May, when Microsoft laid off 6,000 staff including hundreds of middle-managers and engineering roles. The technology business had more than 228,000 employees at the end of its last fiscal year. 'We continue to implement organisational changes necessary to best position the company and teams for success in a dynamic marketplace,' a Microsoft spokesman said. The cuts come after Satya Nadella, Microsoft's chief executive, claimed that up to 30pc of the company's code was now being written by AI bots. Executives have been pushing staff to adopt more AI tools to speed up their work. Julia Liuson, the president of Microsoft's developer division, recently told managers to consider whether an employee was using AI enough as part of their performance reviews, according to Business Insider. 'Using AI is no longer optional,' she said in an email. 'It's core to every role and every level. AI should be part of your holistic reflections on an individual's performance and impact.' Threat to entry-level jobs The job cuts come amid growing fears that entry-level and engineering roles risk being replaced by AI bots. Tools such as ChatGPT can write emails or reports in plain English, generate code or create graphics and pictures. While tech executives have promised AI will help create more jobs than it destroys, there are already signs that some roles are disappearing from the jobs market. Software vacancies have fallen sharply since ChatGPT was released in November 2022. Executives are increasingly demanding programmers augment their roles with AI bots that can generate code themselves.

Microsoft cuts another 9,000 roles in latest jobs cull
Microsoft cuts another 9,000 roles in latest jobs cull

The Independent

time39 minutes ago

  • The Independent

Microsoft cuts another 9,000 roles in latest jobs cull

Microsoft is cutting about 9,000 jobs worldwide in the latest round of staff cuts as the US technology giant looks to slash costs. It is understood the job losses will impact less than 4% of its total workforce. A company spokesman said: 'We continue to implement organisational changes necessary to best position the company and teams for success in a dynamic marketplace.' It marks the biggest jobs cull since early 2023 when the company cut 10,000 workers – almost 5% of its workforce at the time – amid a move in the wider tech sector to scale back expansion seen during the pandemic. The latest cuts are thought to impact different teams and country operations as part of efforts to cut layers of management. The company's gaming business is among areas where Microsoft will 'end or decrease work', according to an internal memo. 'To position gaming for enduring success and allow us to focus on strategic growth areas, we will end or decrease work in certain areas of the business and follow Microsoft's lead in removing layers of management to increase agility and effectiveness,' Phil Spencer, Microsoft's chief executive of gaming, said. The cuts come after Microsoft axed around 6,000 roles in May and some 1,000 in January. Microsoft employed 228,000 full-time workers as of last June, the last time it reported its annual headcount. About 55% were in the US.

New Dundee University chief finance officer Chris Reilly quits after eight days
New Dundee University chief finance officer Chris Reilly quits after eight days

BBC News

timean hour ago

  • BBC News

New Dundee University chief finance officer Chris Reilly quits after eight days

Dundee University's new chief finance officer has left the cash-strapped institution after eight Reilly only joined the university, which is trying to reduce staff numbers as it faces a £35m deficit, last university said Mr Reilly had left the role by mutual agreement and it was "moving quickly" to appoint his said his successor would take the university through "the next steps" of its recovery plan for submission to the Scottish Funding Council Mr Reilly's appointment was announced in May for what was initially thought to be an 18-month university said at the time it was a "vital appointment" and that he brought a wealth of experience across a number of predecessor Helen Simpson only served in the role for seven months. Last month Dundee University's interim principal and two senior members of its governing body quit after a damning report into its financial independent report said university bosses and its governing body failed multiple times to identify the worsening crisis and continued to overspend instead of taking same week the Scottish government announced the university will receive an extra £40m to help it out of the financial crisis.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store