Economy

xchrom

(108,903 posts)

14. Goldman Sachs Winning CEOs as Global No. 1

Mon Dec 19, 2011, 08:43 AM

Dec 2011

http://www.bloomberg.com/news/2011-12-19/goldman-sachs-winning-ceos-as-global-no-1-with-m-a-equity-deals.html

Goldman Sachs Group Inc. (GS) is poised to win the top spot among advisers on both global takeovers and equity offerings for the first time in five years, a sign the bank hasn’t lost the trust of corporate executives.

The global mergers-and-acquisitions team, led since May by Gene T. Sykes, 53, in Los Angeles and London-based Yoel Zaoui, 50, climbed to No. 1 on deals announced this year after trailing Morgan Stanley in 2010 and 2009, according to data compiled by Bloomberg. The bank, the fifth-largest by assets in the U.S., also dominated equity, equity-linked and rights offerings, overseen by London-based Matthew Westerman, 46, the data show.

Lloyd C. Blankfein, 57, a former head of fixed-income trading who became chairman and chief executive officer in 2006, has sought to repair the firm’s reputation after the Securities and Exchange Commission and a Senate subcommittee accused the company of misleading buyers of mortgage-linked investments. Protesters, angry at Wall Street paying billions of dollars in bonuses after governments bailed out the financial system, also targeted Goldman Sachs in protests as recently as last week.

“As much as maybe the public looks down upon them, they’ve been able to overcome it in boardrooms,” said Ralph Cole, senior vice president of research at Portland, Oregon-based Ferguson Wellman Inc., which manages $2.7 billion and doesn’t own Goldman Sachs stock. “Their reputation has taken such a hard hit, it’s surprising to me that people would still choose them over others.”

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