The hyperactive Blankfein kept hopping back and forth, trying to get his BlackBerry to work, finally deciding to slip away from the party after realizing that no one particularly interesting was going to arrive.
Another of Goldman’s board of directors, when asked about the recent departure of Stan O’Neal, said it was a sad day for his industry. Why, he pondered aloud, had Merrill Lynch parted with its much-respected chief executive while Chuck Prince, whose tenure as chairman and CEO of Citi saw the bank’s shares fall 36% in the year to November 4, continued to clog up the system at the largest US banking group – even after writing off $11 billion in sub-prime-related investments.
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