4 Financial Stock Stories For the Savvy Investor on Thursday

Goldman Sachs Group (NYSE:GS): Current price $149.79

For the second consecutive year, Goldman Sachs turned aside a shareholder proposal that could have caused an embarrassing public vote to strip Chief Executive Lloyd Blankfein of his chairman’s title. By allowing modest changes to the group’s governance policies, Blankfein once again potentially averted the kind of unpleasantness suffered by Chief Executive and Chairman Jamie Dimon, of JPMorgan Chase & Co. (NYSE:JPM), who faced substantial opposition on a similar vote in 2012, or Citigroup’s (NYSE:C) then-Chief Executive Vikram Pandit, whose executive pay plan was turned down by shareholders also last year. Also at Goldman Sachs, CtW Investment Group, an adviser to union pension funds with $250 billion of assets, announced on Wednesday that it would withdraw its proxy proposal requesting a split after the company agreed to give Goldman’s lead director, James Schiro, new powers like setting board agendas and writing his own annual letter to shareholders.

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GS

American International Group (NYSE:AIG): Current price $40.54

On Wednesday, a $115 million resolution between AIG shareholders and former executives including Maurice Greenberg was okayed by United States District Judge Deborah Batts in Manhattan federal court. The ruling settles claims by AIG shareholders against Greenberg, former Chief Financial Officer Howard Smith, former Vice President of Reinsurance Christian Milton, former Comptroller Michael Catelli and Greenberg companies C.V. Starr and Starr International Co.

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AIG

ING Groep (NYSE:ING): Current price $7.91

The American insurance division of ING Groep, ING U.S., that’s planning to go public, will change its name as it distances itself from its parent, which is the biggest Dutch financial-services. Through a statement distributed by PR Newswire, the company said Thursday that the business will be called Voya Financial. ING U.S. filed for an initial public offering in November, and reported today its ticker symbol will be VOYA. The U.S. unit, led by the former American International Group executive Rodney Martin, competes with MetLife and Prudential Financial.

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ING

Deutsche Bank (NYSE:DB): Current price $42.41

During a meeting on Thursday, shareholders heckled the bank’s new leaders concerning its legal problems, while they worry that Germany’s flagship lender is being distracted by a spate of scandals and investigations. Attorney Klaus Nieding, representing DSW, Germany’s biggest association for private investors, remarked that “Enough is enough. Shareholder rights are being abused. A private vendetta is being carried out at the expense of all shareholders.”

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DB

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