ERIC SCHWARTZ Managing Director, Goldman, Sachs & Co. Eric Schwartz is an overnight success, and not just because he made partner at Goldman, Sachs & Co. at 31. Schwartz, now 34, leads a Goldman Sachs team that's the champion of the ''overnight convertible,'' an instrument that raises money for companies literally overnight. Convertibles--fixed-income securities that are convertible into common shares--have been around for decades. But Goldman's deft refashioning of them has caught on with customers. This year, Goldman did convertible deals, overnight and otherwise, for such companies as Microsoft, Daimler Benz, Japan's Mitsui Trust, and INA, a state-owned Italian insurer. According to London-based International Financing Review, Goldman led 27 deals valued at $9.8 billion through September of this year, for a 26% market share. Second was Merrill Lynch & Co., with a 9% market share. Schwartz says stocks can be sliced and diced just as much as debt issues have been. ''Eric is one of the best,'' says a counterpart at a rival Wall Street firm. By Peter Coy in New York Return to main story

Updated Oct. 16, 1997 by bwwebmaster
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