Can anyone speak to Goldman's reputation when it comes to RE? I understand their whitehall funds were a disaster coming out of the financial crisis, has their reputation recovered since then? I feel as if you don't hear about them doing much these days
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The whole firm is failing because they are late to the credit card and auto loan party, that’s where the profits are post-recession
Can you elaborate more on this? Also, do you know how their new Marcus platform is doing?
I feel like from a CB perspective they should be doing decently well, rates are fairly competitive with other online only savings accounts (not great, not terrible).
Goldman? Never heard of them...
In all honesty, where do you want to go/ what do you want to do in this industry? That could help allow more clarity.
@Malta Monkey Apologies for such a delayed response here -- I have an alumni contact at Goldman's new york office, I haven't reached out yet but he's a "VP of Real Estate Financing". I would like to get on the buy-side as soon as possible (currently an incoming senior in undergrad), but I'm generally unsure of how active Goldman's real estate platform is, obviously the brand recognition is there, I was just wondering how they're perceived in the space.
From my understanding, the top BB RE lenders are GS, JP, and DB (no particular order). WF is also strong in terms of volume, however not as 'sexy' as they often deal with vanilla properties. From these lending platforms, you'd be able to break into solid REPE groups. All in all, a great place to start your career.
how are they top? They are not too by either volume or profit....
REJB123, I agree with everything said here. You'll learn a lot there. If you don't like it- leave.
Let's look at the balance sheets of the largest banks and their current exposure to commercial real estate:
Now let's take a look at the 10 largest loan contributors to US CMBS deals in 2018: 1. JP Morgan - $9.7 billion 1. Deutsche Bank - $8.8 billion 1. Goldman Sachs - $8.6 billion 1. Citigroup - $7.3 billion 1. Morgan Stanley - $5.8 billion 1. Wells Fargo - $5.8 billion 1. Bank of America - $5.2 billion 1. Barclays - $3.9 billion 1. Natixis - $3.2 billion 1. UBS - $2.4 billion
Wow, Whitehall that just gave me PTSD.
Why PTSD? Doesn't sound pretty.
https://www.cnbc.com/id/36591654
Goldman lost $1.3B in Marcus since 2016, on wsj yesterday
Slow death for all the IB without mainstreet banking business
From what I understand they just had a series of layoffs too. Things don't look too good for them.
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