Daily Archives: February 19, 2009

John Gapper

These are interesting times at Goldman Sachs, perhaps the most interesting since the convulsion that shook the firm in 1994, when it was still a partnership and Stephen Friedman stepped down abruptly as its senior partner, provoking a wave of other departures.

The announcement this week of the departure of Jon Winkelried, its president and co-chief operating officer with Gary Cohn, has set off a flurry of questions about what is going on at Goldman. The FT reported this morning that Goldman’s bankers are worried that this could tip the balance of power too far towards its traders. Read more