Displaying items by tag: goldman sachs group inc.

Sotheby’s, the New York-based auctioneer under pressure to improve returns, said Patrick McClymont will resign as its chief financial officer and executive vice president effective Jan. 1, a little more than two years after assuming the post.

McClymont was a partner and managing director at Goldman Sachs Group Inc. prior to joining Sotheby’s in 2013. He will receive $3.75 million in cash severance.

Goldman Sachs Group Inc. (GS), which stood by Steven A. Cohen last year as his SAC Capital Advisors LP bore the brunt of a massive insider trading probe, has come to the billionaire’s aid again.

The top prime broker to the former hedge-fund firm, Goldman Sachs is making a personal loan to Cohen for the first time, according to a regulatory filing, joining the list of banks that have provided SAC’s founder with credit lines backed by his $1 billion art collection. Like Citigroup Inc. (C), JPMorgan Chase & Co. and Bank of America Corp., New York-based Goldman Sachs is making the loan through its private bank as part of an effort to expand its business catering to ultra-wealthy individuals.