Friday, January 28, 2011

Internal Tensions at Goldman Sachs?

Word out of GS is always that internally the firm is like one big happy pajama party. No riffs there.

This makes this note from FT all the more curious:
Goldman Sachs appointed Michael Evans, its Asia chairman, to a broader role as head of emerging markets, a move that could soothe internal tensions within the bank’s senior ranks and underlines its desire to expand in developing economies...

Goldman declined to comment. Mr Evans, who is attending the World Economic Forum annual meeting in Davos this week, could not be reached.

Mr Evans’s promotion comes as banks seek new ways to benefit from the fast-growing economies of Asia and Latin America. Mr Blankfein has described these markets as a cornerstone of Goldman’s plans following the financial crisis.

But the new post is also an attempt to quell a potential source of disagreement within Goldman.
Tell us more FT.

1 comment:

  1. Ha. Goldman might be having bigger problems than that soon.

    Zerohedge has a story that Khuzami might be facing the music for not pulling off that case against them...

    If that pans out, I'll crow "told ya" - since way back last year, over your pooh-poohing, I do recall insisting there WAS a case against Goldman......only it looked like the Feds weren't going to make it.

    And, in May, on Chris Cook's U-Vic. show (a progressive outlet), I made the point that having Khuzami in charge was pretty much a tip off because he was doing exactly the same sort of deals at Deutsche Bank as the one that went down with Paulson. That was a good enough signal that the fix was in...

    (Not to toot my trumpet..)

    Well, Mr. Tyler Durden seems to have reached much the same conclusion (see Jan 11 Zerohedge)

    And, I do believe the estimable Patrick Byrne - still alive and kicking at OSTK and Deepcapture to the sorrow of his enemies - has now added RICO charges to his civil suit against the g-men:

    This gets to be as much fun as you can have legally in the states these days.

    Mind you, Goldman is our pet bacillus. We feel proprietorial to it...even fond of it in a perverse way...and don't wish for its untimely demise...
    sort of...