U.S. investment banks, many of which have reduced headcount in the face of shrinking profits, have found new opportunities in an unusual place, the growth in shareholder activism. Goldman Sachs Group Inc has long been the go-to firm for companies defending against activists ever since the days when they were called corporate raiders.But over the past few years, big banks like Credit Suisse and Barclays Plc as well as investment bank Houlihan & Lokey, which focuses on the middle market, have formed practices offering the services.The banks help companies with everything from writing press releases to analyzing the costs of a breakup or countering activists' demands, bankers said. They are also aid companies in identifying where they could be vulnerable, even before activist investors show up on their doorsteps."The level of receptivity from companies has definitely increased," said Daniel Kerstein, head of the strategic finance group at Barclays. "In some cases the proposed medicine may be worse than the problem, but you are still going to listen."
Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Shares of BCS traded higher by 2.56% or $0.47/share to $18.84. In the past year, the shares have traded as low as $9.23 and as high as $20.60. On average, 3208730 shares of BCS exchange hands on a given day and today's volume is recorded at 798382.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a bank holding and a financial holding company. Shares of GS fell by 0.28% or $-0.42/share to $149.04. In the past year, the shares have traded as low as $90.43 and as high as $159.00. On average, 4441850 shares of GS exchange hands on a given day and today's volume is recorded at 694029.
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