4 Financial Stock Stories For Thursday Perusal

Goldman Sachs Group (NYSE:GS): Current price $157.41

In a Bloomberg Television interview with Erik Schatzker, Chief Executive Lloyd C. Blankfein affirmed that his company is committed to growing in China, even subsequent to its concluding a seven-year investment in Industrial & Commercial Bank of China Ltd. This week, Goldman Sachs this week divested a $1.1 billion interest in ICBC, according to an inside source. The firm garnered approximately $12 billion in sales proceeds and dividends from its $2.5-billion investment in ICBC, based on calculations by Macquarie Capital Securities Ltd. Blankfein commented that “ICBC is not the key to our interest in China, or the big reflection of it. We’re investing in China because China — I was going to say it’s the future, but it’s a big part of the present as well.”

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GS

New Residential Investment Corp. (NASDAQ:NRZ): Current price $6.94

New residential said Thursday that it has co-invested with Nationstar Mortgage (NYSE:NSM) in its recent purchase of mortgage servicing rights. The portfolio shows an unpaid principal balance of around $23 billion, and is comprised of residential mortgage loans in government sponsored enterprise pools. New Residential invested roughly $38 million to buy the right to receive one-third of the monthly cash flow generated by the MSRs, net of a basic fee paid to Nationstar.

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NRZ

JPMorgan Chase & Co. (NYSE:JPM): Current price $53.35

The JPMorgan Chase & Co. subsidiary JPMorgan International Bank Limited, was fined on Thursday fined the equivalent of $4.7 million by the United Kingdom Financial Conduct Authority for systems and controls failings connected with its supply of retail-investment advice and portfolio-investment services. The problems lasted for two years and were not repaired until the FCA mentioned it to the firm, says a news release.

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JPM

KeyCorp (NYSE: KEY): Current price $10.63

KeyCorp announced Thursday that the finance executive Donald R. Kimble, having over 25 years of experience in financial services, will join the firm as its chief financial officer effective June 3. Kimble will be responsible for Key’s financial and operational strategy, metrics tied to the strategy, and the current development and monitoring of control systems created to preserve company assets and report accurate financial results.

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KEY

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