The Goldman Sachs Empire
INVESTMENT BANKING
Ranks No.1 in global M&A through Dec. 9. Firm's single most profitable business. Advised British chemical company ICI on restructuring--largest private market deal ever in Britain.
FIXED INCOME
A top bond house. Includes the former J. Aron, which trades foreign exchange and commodities. Handled $2 billion bond deal for Hong Kong-based Hutchison Whampoa.
RESEARCH
Has 215 analysts worldwide. After October's stock dive, market guru Abbey Joseph Cohen presciently urged investors to buy more stock.
EQUITIES
Has 16% share in IPOs. In one of 1997's biggest equity trades, bought, then sold a $2 billion block of British Petroleum within 24 hours.
ASSET MANAGEMENT
A small player, with $130 billion under management. But it is aggressively expanding, especially in Japan, where it's ninth-largest.
REAL ESTATE
Major buyer of distressed commercial real estate through its Whitehall funds, which own $20 billion in properties. Bested Sam Zell to acquire 50% stake in Rockefeller Center.
PRINCIPAL INVESTING
Active buyer through Goldman Sachs Capital Partners, with $4 billion in capital and minority stakes in 92 companies in 18 countries, including Ralph Lauren and Executive Jet.
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