It's about time to re-ignite the flame. Goldman is filing for IPO again, probably at a lower price.
>>>>>>>>>>>>>>>>>>>>>From Yahoo<<<<<<<<<<<<<<<<<<<<<<<<<<<<
The Goldman Sachs Group has done enough IPOs to know when the getting is good, and the company has decided that, in the case of its own offering, it's time to get going.
Although the New York City-based firm shelved its plans to go public in 1998 because of unfavorable market conditions -- and remains, as a result, the last major partnership on Wall Street -- Goldman Sachs is now gearing up its offering plans once again. One of the top underwriters of US IPOs, Goldman Sachs' business lines include mergers and acquisitions (it's the world champion), research, securities and commodities trading, foreign exchange, and real estate. However, proprietary trading remains one of its most lucrative activities.
Many of the firm's superlatives derive from the financial health and strength of the US economy rather than market share overseas. Currently, about one-quarter of the firm's sales come from overseas business. The firm hopes to increase this number and is working in particular to take advantage of the realignments occurring as the European Union countries move toward a unified economy.
A number of nonvoting partners are involved in the firm. The amehameha Schools/Bishop Estate of Hawaii trust and Sumitomo receive about 11% and 9%, respectively, of Goldman Sachs' profits or losses.
Officers & Employees
Co-Chairman and CEO: Henry M. Paulson Jr., age 52, $600,000 pay
Co-Chairman: Jon S. Corzine, age 52
VC: Robert J. Hurst Jr., age 53, $600,000 pay
President and Co-COO: John A. Thain, age 43, $600,000 pay
President and Co-COO: John L. Thornton, age 45, $600,000 pay
CFO: David A. Viniar, age 43, $600,000 pay
General Counsel: Robert J. Katz, age 51
General Counsel: Gregory K. Palm, age 50
Chief of Staff: Robin Neustein, age 45
Chief Information Officer: Leslie M. Tortora, age 42
Chief Administrative Officer: Barry L. Zubrow, age 46
Co-Head, Equities: Robert K. Steel
Co-Head, Equities; Deputy Chairman - Europe: Patrick J. Ward
Co-COO, Investment Banking: Steven M. "Mac" Heller
Co-COO, Investment Banking: Robert S. Kaplan
Co-COO, Investment Banking; Deputy Chairman - Europe: Peter A. Weinberg
Head, Leveraged Finance: Jon Winkelried
Co-Head, Merchant Banking: Richard A. Friedman
Co-Head, Merchant Banking: Daniel M. Neidich
VP Personnel: Bruce Larson
Location & Subsidiaries
Headquarters:
85 Broad St., New York, NY 10004
Web Site:
gs.com
Phone:
212-902-1000
Fax:
212-902-3000
The Goldman Sachs Group has offices from coast to coast in the US and in Canada, Mexico, and South America. Overseas it has regional headquarters in Hong Kong, London, and Tokyo and offices throughout Asia and Europe.
1998 Sales
$ mil. % of total
US & other Americas 15,972 71
Europe 5,156 23
Asia 1,350 6
Total 22,478 100
Products & Operations
Selected Product/Services Categories
1998 Sales
$ mil. % of total
Interest 15,010 67
Investment banking 3,368 15
Asset management &
securities services 2,085 9
Trading & principal
investments 2,015 9
Total 22,478 100
Selected Products and Services
Financing Services
Equity and debt products for corporations and governments
IPOs
Loans
Medium-term notes
Preferred stock and securitized offerings
Principal investments
Privatizations
Senior bank debt
Structured finance
Foreign Exchange and Commodities
Commodities
Foreign exchange
Goldman Sachs commodity index
Investment Services
Asset management
Block trading
Equity derivatives
Fixed-income derivatives
Fixed-income securities
Global equity markets
Global securities services
Offshore trust services
Portfolio restructuring and liability management
Private banking
Reporting and accounting services
Securities financing
Special investments
Mergers and Acquisitions
Advisory services
Transaction services
Real Estate
Arranging sales and financing of commercial properties
Principal investments
Real estate investment trusts
Strategic advisories
Research
Economic analysis
Electronics-based data delivery system
Information and guidance on equity and fixed-income securities
Portfolio strategy and stock selection services
Significant Subsidiaries
Goldman, Sachs & Co.
Goldman Sachs (Asia) Finance Holdings L.L.C.
Goldman Sachs (Asia) Finance (Mauritius)
Goldman Sachs Canada
Goldman Sachs Capital Markets, L.P.
Goldman Sachs (Cayman) Holding Company (Cayman Islands)
Goldman, Sachs & Co. Bank (Switzerland)
Goldman, Sachs & Co. oHG (Germany)
Goldman Sachs Credit Partners, L.P. (Bermuda)
Goldman Sachs Holdings L.L.C. (49%, with Caterpillar Inc.)
Goldman Sachs International Bank (UK)
Goldman Sachs Holdings (Netherlands) B.V.
Goldman Sachs Mitsui Marine Derivative Products, L.P.
(49%, with Mitsui Marine & Fire Insurance Co.)
Goldman Sachs (Japan) Ltd. (British Virgin Islands)
Goldman Sachs Mortgage Company
Goldman Sachs (UK) L.L.C.
Goldman Sachs Holdings (UK)
Goldman Sachs Equity Securities (UK)
Goldman Sachs International (UK)
Goldman Sachs International Finance (UK)
J. Aron & Company (UK)
GS Equity Markets, L.P. (Bermuda)
J. Aron Holdings, L.P.
J. Aron & Company
Competitors & Industry
Bankers Trust
Bear Stearns
Brown Brothers Harriman
BT Alex. Brown
Canadian Imperial
Charles Schwab
Citigroup
Credit Suisse
Deutsche Bank
DLJ
FMR
ING
J.P. Morgan
Lehman Brothers
Merrill Lynch
Morgan Stanley Dean Witter
Nomura Securities
Paine Webber
Prudential
Royal Bank of Canada
Salomon Smith Barney Holdings
Financials
Fiscal year-end:
November 30
1998 Revenue:
$22478.0M
1-Yr. Revenue Growth:
10.0%
1998 Net Income:
$2428.0M
1-Yr. Net Income Growth:
(11.6)% |
