Difference between revisions of "Goldman Sachs Group"

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'''[http://www.gs.com Goldman Sachs]''', founded in 1869, describes itself as a "leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net-worth individuals ... It is one of the oldest and largest investment banking firms ... headquartered in New York [with] offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world."[http://www.gs.com]
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[[Goldman Sachs Group]], founded in 1869, describes itself as a "leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net-worth individuals ... It is one of the oldest and largest investment banking firms ... headquartered in New York [with] offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world."<ref>CLS, [http://www.cls-group.com/ABOUT/COMMUNITY/Pages/CLSMembers.aspx CLS Members], accessed 04 January 2011.</ref>
  
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==Political contributions==
 
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[[Henry M. Paulson, Jr.]], then Chair & CEO of Goldman Sachs, was a [[Bush Pioneer]] having raised at least $100,000 for [[George Walker Bush|Bush]] in the [[U.S. presidential election, 2004|2004 presidential election]]. In 2006, Paulson was appointed by Bush to be Secretary of the [[U.S. Department of Treasury|Department of the Treasury]].
 
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<ref>[http://www.tpj.org/docs/pioneers/pioneers_view.jsp?id=970 Bush Pioneer Henry M. Paulson Jr.], ''Texans for Public Justice'', accessed August 2007.</ref>
 
  
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Goldman Sachs gave $478,250 to federal candidates in the 05/06 election period through its [[political action committee]] -  35% to [[Democrats]] and 65% to [[Republican Party (USA)|Republicans]].
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==Record and Controversies==
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<ref>[http://www.opensecrets.org/pacs/lookup2.asp?strID=C00350744&cycle=2006 2006 PAC Summary Data], ''Open Secrets'', accessed July 2007.</ref>
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===Political contributions===
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[[Henry M. Paulson, Jr.]], then Chair & CEO of Goldman Sachs, was a [[Bush Pioneer]] having raised at least $100,000 for [[George Walker Bush|Bush]] in the [[U.S. presidential election, 2004|2004 presidential election]]. In 2006, Paulson was appointed by Bush to be Secretary of the [[U.S. Department of Treasury|Department of the Treasury]].<ref>TPJ, "[http://www.tpj.org/docs/pioneers/pioneers_view.jsp?id=970 Bush Pioneer Henry M. Paulson Jr.]," ''Texans for Public Justice'', accessed August 2007.</ref>
  
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==Lobbying==
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Goldman Sachs gave $478,250 to federal candidates in the 05/06 election period through its [[political action committee]] - 35% to [[Democrats]] and 65% to [[Republican Party (USA)|Republicans]].<ref>OpenSecrets, [http://www.opensecrets.org/pacs/lookup2.asp?strID=C00350744&cycle=2006 2006 PAC Summary Data], ''Open Secrets'', accessed July 2007.</ref>
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The company spent $2,380,000 for [[lobbying]] in 2006. $1,031,250 went to nine outside [[lobbying firms]] with the remainder being spent using in-house lobbyists. The lobbying firms included [[DLA Piper Rudnick Gray Cary]], [[The Duberstein Group]], and [[Vinson & Elkins]].
 
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<ref>[http://www.opensecrets.org/lobbyists/clientsum.asp?txtname=Goldman+Sachs&year=2006 Goldman Sachs lobbying expenses], ''Open Secrets.''</ref>
 
  
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Goldman Sach's lobbying firm in the UK is [[Lexington Communications]]<ref>[http://www.appc.org.uk/index.cfm/pcms/site.ourclients.register_home/ APPC register], to Nov 2008</ref>
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===Lobbying===
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The company spent $2,380,000 for [[lobbying]] in 2006. $1,031,250 went to nine outside [[lobbying firms]] with the remainder being spent using in-house lobbyists. The lobbying firms included [[DLA Piper Rudnick Gray Cary]], [[The Duberstein Group]], and [[Vinson & Elkins]].<ref>OpenSecrets, "[http://www.opensecrets.org/lobbyists/clientsum.asp?txtname=Goldman+Sachs&year=2006 Goldman Sachs lobbying expenses]," ''Open Secrets'', accessed July 2007.</ref>
  
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==Personnel==
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Goldman Sach's lobbying firm in the UK is [[Lexington Communications]].<ref>APPC, [http://www.appc.org.uk/appc/filemanager/root/site_assets/pdfs/appc_register_entry_for_1_december_2008_to_28_february_2009_v3.pdf APPC Register Entry for 1 December 2008 to 28 February 2009], accessed 04 January 2011.</ref>
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===Executives===
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Key executives and 2006 pay:
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===Revolving Door===
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<ref>[http://finance.yahoo.com/q/pr?s=GS Goldman Sachs Key Executives], ''Yahoo Finance'', accessed August 2007.</ref>
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*:[[John Browne]], Lord Browne of Madingley, was a Non-executive Director of Goldman Sachs Group from 1999 to 2007.<ref>''Who's Who 2009'', [http://www.ukwhoswho.com/view/article/oupww/whoswho/U9116 BROWNE OF MADINGLEY], online edition, Oxford University Press, accessed 24 March 2009.</ref>
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*:[[Mark Carney]], the Governor of the Bank of Canada and Senior Associate Deputy Minister of Finance from November 2004, was the managing director of Goldman Sachs' Canadian operation until 2003.<ref>Bank of Canada, [http://www.bankofcanada.ca/en/bios/carney.html Biographical note], accessed 04 January 2011.</ref><ref>Ottawa, Vieira, "Mark Carney and the Goldman Sachs economic club," ''National Post'', 04 October 2007.</ref>
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*:[[Stephen Friedman]], a director of Goldman Sachs since April 2005 was appointed Chairman of the U.S. President’s Foreign Intelligence Advisory Board and Chairman of the Intelligence Oversight Board in January 2006. He was Assistant to the President for Economic Policy and Director of the National Economic Council from December 2002 until December 2004.
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==Company Profile==
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===Personnel===
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====Executives====
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Key executives and 2006 pay:<ref>Yahoo Finance, [http://finance.yahoo.com/q/pr?s=GS Goldman Sachs Key Executives], ''Yahoo Finance'', accessed August 2007.</ref>
 
*[[Lloyd C. Blankfein]], Chairman and Chief Executive Officer, $27,800,000
 
*[[Lloyd C. Blankfein]], Chairman and Chief Executive Officer, $27,800,000
 
*[[David A. Viniar]], Chief Financial Officer, $20,840,000
 
*[[David A. Viniar]], Chief Financial Officer, $20,840,000
 
*[[Brooks Entwistle]], Chief Executive Officer of Goldman Sachs ([[India]]) LLC
 
*[[Brooks Entwistle]], Chief Executive Officer of Goldman Sachs ([[India]]) LLC
  
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===Members of the board===
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====Members of the board====
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<ref>[http://www2.goldmansachs.com/our_firm/corporate_information/the_leaders/board_of_directors/index.html Board of Directors], accessed July 2007.</ref>
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Members of the board:<ref>Goldman Sachs, [http://www2.goldmansachs.com/our_firm/corporate_information/the_leaders/board_of_directors/index.html Board of Directors], accessed July 2007.</ref>
 
*[[Lloyd C. Blankfein]] - Chairman and Chief Executive Officer
 
*[[Lloyd C. Blankfein]] - Chairman and Chief Executive Officer
 
*[[Gary D. Cohn]] - President and Co-Chief Operating Officer
 
*[[Gary D. Cohn]] - President and Co-Chief Operating Officer
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*[[John F. W. Rogers]] - Secretary to the Board
 
*[[John F. W. Rogers]] - Secretary to the Board
  
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==Subsidiaries==
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===Subsidiaries===
 
*[[Goldman Sachs International]]
 
*[[Goldman Sachs International]]
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* [[Pret A Manger]] sandwich outlets are reportedly owned by Goldman Sachs<ref> <i>Channel 4</i> 'Dispatches: Sandwiches Unwrapped'. 28th July 2008</ref>
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*[[Pret A Manger]] sandwich outlets are reportedly owned by Goldman Sachs.<ref><i>Channel 4</i> 'Dispatches: Sandwiches Unwrapped,' 28 July 2008.</ref>
  
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==Affilliations==
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===Affiliations===
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In 2008, the Goldman Sachs Group is reported to provide sponsorship to the [[Center for Global Development]]<ref> Centre for Global Development [http://www.cgdev.org/section/about/funders Funders] Accessed 22nd January 2008</ref>.
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In 2008, the Goldman Sachs Group is reported to provide sponsorship to the [[Center for Global Development]].<ref>Centre for Global Development, [http://www.cgdev.org/section/about/funders Funders], accessed 22 January 2008.</ref>
  
 
==Contact details==
 
==Contact details==
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85 Broad Street<br>
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:Address:
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New York, NY 10004<br>
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:85 Broad Street
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Phone: 212-902-1000<br>
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:New York, NY 10004
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Fax: 212-902-3000<br>
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Web: http://www.goldmansachs.com
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:Phone:
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:212-902-1000
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:Fax:
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:212-902-3000
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:Website:
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:http://www.goldmansachs.com
  
 
==External Links==
 
==External Links==
 
*Matt Taibi, [http://www.rollingstone.com/politics/news/12697/64796 The Great American Bubble Machine], ''Rolling Stone'', 5 April 2010.
 
*Matt Taibi, [http://www.rollingstone.com/politics/news/12697/64796 The Great American Bubble Machine], ''Rolling Stone'', 5 April 2010.
  
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==References==
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==Resources==
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*APPC, [http://www.appc.org.uk/appc/filemanager/root/site_assets/pdfs/appc_register_entry_for_1_december_2008_to_28_february_2009_v3.pdf APPC Register Entry for 1 December 2008 to 28 February 2009], accessed 04 January 2011.
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*Bank of Canada, [http://www.bankofcanada.ca/en/bios/carney.html Biographical note], accessed 04 January 2011.
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*Centre for Global Development, [http://www.cgdev.org/section/about/funders Funders], accessed 22 January 2008.
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*<i>Channel 4</i> 'Dispatches: Sandwiches Unwrapped,' 28 July 2008.
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*CLS, [http://www.cls-group.com/ABOUT/COMMUNITY/Pages/CLSMembers.aspx CLS Members], accessed 04 January 2011.
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*Goldman Sachs, [http://www2.goldmansachs.com/our_firm/corporate_information/the_leaders/board_of_directors/index.html Board of Directors], accessed July 2007.
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*OpenSecrets, "[http://www.opensecrets.org/lobbyists/clientsum.asp?txtname=Goldman+Sachs&year=2006 Goldman Sachs lobbying expenses]," ''Open Secrets'', accessed July 2007.
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*OpenSecrets, [http://www.opensecrets.org/pacs/lookup2.asp?strID=C00350744&cycle=2006 2006 PAC Summary Data], ''Open Secrets'', accessed July 2007.
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*Ottawa, Vieira, "Mark Carney and the Goldman Sachs economic club," ''National Post'', 04 October 2007.
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*TPJ, "[http://www.tpj.org/docs/pioneers/pioneers_view.jsp?id=970 Bush Pioneer Henry M. Paulson Jr.]," ''Texans for Public Justice'', accessed August 2007.
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*''Who's Who 2009'', [http://www.ukwhoswho.com/view/article/oupww/whoswho/U9116 BROWNE OF MADINGLEY], online edition, Oxford University Press, accessed 24 March 2009.
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*Yahoo Finance, [http://finance.yahoo.com/q/pr?s=GS Goldman Sachs Key Executives], ''Yahoo Finance'', accessed August 2007.
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==Notes==
 
<references />
 
<references />
 
[[Category:Banking and Finance Industry]]
 
[[Category:Banking and Finance Industry]]
 
[[Category: Financial sector lobbying]]
 
[[Category: Financial sector lobbying]]

Revision as of 12:57, 4 January 2011

Goldman Sachs Group, founded in 1869, describes itself as a "leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net-worth individuals ... It is one of the oldest and largest investment banking firms ... headquartered in New York [with] offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world."[1]


Record and Controversies

Political contributions

Henry M. Paulson, Jr., then Chair & CEO of Goldman Sachs, was a Bush Pioneer having raised at least $100,000 for Bush in the 2004 presidential election. In 2006, Paulson was appointed by Bush to be Secretary of the Department of the Treasury.[2]

Goldman Sachs gave $478,250 to federal candidates in the 05/06 election period through its political action committee - 35% to Democrats and 65% to Republicans.[3]

Lobbying

The company spent $2,380,000 for lobbying in 2006. $1,031,250 went to nine outside lobbying firms with the remainder being spent using in-house lobbyists. The lobbying firms included DLA Piper Rudnick Gray Cary, The Duberstein Group, and Vinson & Elkins.[4]

Goldman Sach's lobbying firm in the UK is Lexington Communications.[5]

Revolving Door

  • John Browne, Lord Browne of Madingley, was a Non-executive Director of Goldman Sachs Group from 1999 to 2007.[6]
  • Mark Carney, the Governor of the Bank of Canada and Senior Associate Deputy Minister of Finance from November 2004, was the managing director of Goldman Sachs' Canadian operation until 2003.[7][8]
  • Stephen Friedman, a director of Goldman Sachs since April 2005 was appointed Chairman of the U.S. President’s Foreign Intelligence Advisory Board and Chairman of the Intelligence Oversight Board in January 2006. He was Assistant to the President for Economic Policy and Director of the National Economic Council from December 2002 until December 2004.


Company Profile

Personnel

Executives

Key executives and 2006 pay:[9]

Members of the board

Members of the board:[10]

Subsidiaries

Affiliations

In 2008, the Goldman Sachs Group is reported to provide sponsorship to the Center for Global Development.[12]

Contact details

Address:
85 Broad Street
New York, NY 10004
Phone:
212-902-1000
Fax:
212-902-3000
Website:
http://www.goldmansachs.com

External Links

Resources

Notes

  1. ↑ CLS, CLS Members, accessed 04 January 2011.
  2. ↑ TPJ, "Bush Pioneer Henry M. Paulson Jr.," Texans for Public Justice, accessed August 2007.
  3. ↑ OpenSecrets, 2006 PAC Summary Data, Open Secrets, accessed July 2007.
  4. ↑ OpenSecrets, "Goldman Sachs lobbying expenses," Open Secrets, accessed July 2007.
  5. ↑ APPC, APPC Register Entry for 1 December 2008 to 28 February 2009, accessed 04 January 2011.
  6. ↑ Who's Who 2009, BROWNE OF MADINGLEY, online edition, Oxford University Press, accessed 24 March 2009.
  7. ↑ Bank of Canada, Biographical note, accessed 04 January 2011.
  8. ↑ Ottawa, Vieira, "Mark Carney and the Goldman Sachs economic club," National Post, 04 October 2007.
  9. ↑ Yahoo Finance, Goldman Sachs Key Executives, Yahoo Finance, accessed August 2007.
  10. ↑ Goldman Sachs, Board of Directors, accessed July 2007.
  11. ↑ Channel 4 'Dispatches: Sandwiches Unwrapped,' 28 July 2008.
  12. ↑ Centre for Global Development, Funders, accessed 22 January 2008.
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