Goldman Sachs NZ unit posts FY loss as fees, commissions, trading income fall

Wed, 30 May 2012

By Jonathan Underhill May 30 (BusinessDesk) - Goldman Sachs New Zealand Holdings, the local unit of the Wall Street investment bank, posted a full-year loss as revenue from fees, commissions and trading fell almost three times as much as operating expenses. The net loss was $3.58 million in calendar 2011, from a profit of $8.87 million a year earlier, according to the company’s financial statements, lodged with the Companies Office. Total revenue fell to $22.2 million from $43.6 million. Goldman Sachs NZ is wholly owned by Goldman Sachs Aust...

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