Morgan and Goldman: Lovers, Not Fighters?

by Derek Loosvelt | December 03, 2008

According to CNBC, the head honchos of Goldman Sachs and Morgan Stanley—perennial competitors in all things investment banking-related such as M&A deals (those merger and acquisition things people use to close and make billions on) and IPOs (public offerings that used to be huge when stocks weren’t falling out of the sky)—have put down the gloves and are … dating?

No, not really. They’re just seeing each other.

That is, Lloyd The Check Ain't Blankfein Anymore and Johnny Mack the Knife have been spotted wining and dining each other out on the town, perhaps to compare notes on the struggles facing their institutions now that they’re no longer in the pure investment banking business, or perhaps it's something more serious, such as a merger between the two firms.

Insiders seem to think Goldman and Morgan getting in bed together is highly unlikely, but then again, how many insiders predicted that Bear and Lehman would be dead and Merrill Lynch would be part of BofA, etc., etc., etc.? So who knows, perhaps Stanley Sachs/Goldman Stanley could be in the works.

In the meantime, while insiders conjecture on the firms' fates and the courting continues, one thing’s for certain: the two big swingers are happy they weren’t the recipient of this award: world’s worst banker. Which went to a knighted Scotsman named Fred the Shred.

 

Filed Under: Finance


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