Goldman (GS) to Boost Brazilian Headcount 20%
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Price: $1,028.78 -0.75%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
Revenue Growth %: +16.2%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
Revenue Growth %: +16.2%
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Goldman Sachs (NYSE: GS) is boosting its workforce in Brazil again, albeit at a slower clip than in 2010.
The firm plans to boost its payroll by 20 percent in Brazil this year, compared to an increase of 50 percent last year.
Group president Valentino Carlotti still has confidence in the region, saying the unit has "robust growth plans for every product and division."
But the move doesn't put Goldman at the top of the charts. JPMorgan (NYSE: JPM) has 630 employees in Brazil, while Bank of America (NYSE: BAC) boasts 400.
Goldman has only been a full-service bank in Brazil since 2009 amid two failed attempts: one in 1998 to acquire Banco de Investimentos Garantia SA, and the other in 2005 for Banco Pactual SA.
The firm plans to boost its payroll by 20 percent in Brazil this year, compared to an increase of 50 percent last year.
Group president Valentino Carlotti still has confidence in the region, saying the unit has "robust growth plans for every product and division."
But the move doesn't put Goldman at the top of the charts. JPMorgan (NYSE: JPM) has 630 employees in Brazil, while Bank of America (NYSE: BAC) boasts 400.
Goldman has only been a full-service bank in Brazil since 2009 amid two failed attempts: one in 1998 to acquire Banco de Investimentos Garantia SA, and the other in 2005 for Banco Pactual SA.
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