Michael Sherwood

Michael 'Woody' Sherwood (born July 1965) is a Goldman Sachs vice chairman and co-chief executive officer of Goldman Sachs International. Having worked for the company all his career, he is one of its highest paid executives. In 2008 his estimated worth was £225 million. Sherwood has advised London Mayor Boris Johnson and was said to have enjoyed a 'clear channel of communication to former Labour prime minister Gordon Brown. In March 2011 he was appointed chairman of the bank's influential partnership committee, raising speculation that he is being positioned as an eventual successor to boss Lloyd Blankfein. If this happens, he would become Goldman's first ever British boss.

Activities

Meeting with UK Minister

A month after the new UK Coalition government took office in May 2010, Sherwood and co-CEO Richard Gnodde secured a meeting with UK Treasury minister Mark Hoban. According to SpinWatch.

What was discussed at this meeting, however, will never be publicly known as no agenda or formal minutes were taken, despite David Cameron's pledge that his Ministers must be “transparent about what we do and how we do it”.

Mayor of London Advisory Role

Just days into the new Coalition government, London Mayor Boris Johnson invited Sherwood to work with him on Corporate Social Responsibility and Welfare to Work programme.

Lunching with George Osborne and Boris Johnson

Correspondence obtained by SpinWatch reveals that Sherwood had been invited in December 2009 by Johnson to attend a lunch with the then shadow chancellor, George Osborne and hosted by financial sector lobbying organisation TheCityUK's chairman Stuart Popham. Popham at the time was senior partner in Clifford Chance, the law firm representing American banks in their lobbying efforts against EU efforts to toughen regulation.

“The purpose of the lunch”, according to the letter from Johnson to Sherwood dated 21 December 2009, “is to discuss threats to London's competitiveness as a global financial centre”, as well as “to hear your concerns and suggestions, and to reassure you that we remain committed to doing all we can to ensure London retains its position.”

Days before the lunch, Johnson had written to Sherwood's boss, Goldman's Chair and CEO, Lloyd Blankfein, to restate his support for the City: “I will strongly defend London's financial services industry against the threats of punitive taxation and new burdensome EU regulations”, he wrote.

Career

According to his Goldman Sachs' web profile:

Mr. Sherwood has been a Vice Chairman of Goldman Sachs since February 2008 and co-chief executive officer of Goldman Sachs International since 2005. Prior to becoming a Vice Chairman, he had served as global co-head of Goldman Sachs’ securities business since 2003. Prior to that, he had been head of the Fixed Income, Currency and Commodities Division in Europe since 2001.

Education

Sherwood is a former classmate of Nick Clegg at the elite Westminster public school. He studied at the University of Manchester, joining Goldmans straight after graduation, aged 20.

Affiliations

In 2006 Sherwood was cited as a supporter of the Britain Israel Communications and Research Centre (Bicom) and had taken part in Bicom's 'fundraising mission' to Israel the previous year.

Resources

• SpinWatch, Doing God’s Work: How Goldman Sachs Rigs the Game - SpinWatch investigation detailing Goldman Sachs’ secret lobbying activities in the UK and Brussels and links to politicians. March 2011.