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Goldman Sachs

Goldman Sachs is a New York-based investment banking firm that engages in global investment banking, securities, investment management, and other financial services, primarily with institutional clients. Founded in 1869, the firm is recognised as one of the most prestigious institutions in the world, although its reputation has suffered after the financial sector drew fire since the global financial crisis. 

Glowing transformation

PUBLISHED : Thursday, 03 April, 2008, 12:00am
UPDATED : Thursday, 03 April, 2008, 12:00am

Vice-Premier Wang Qishan greeted his long-time acquaintance Henry Paulson with his trademark humour yesterday.

In his first meeting with the US Treasury secretary in his new capacity as a vice-premier, Mr Wang said he was a little worried by what he had seen on television the night before. 'I saw you in the news footage and I was a bit concerned because you looked a bit worn out on the TV,' he said, referring to a CCTV news clip featuring Mr Paulson's remarks on US financial regulatory reform. 'But you look glowing today, so I feel really happy and relieved.'

The pair have known each other since Mr Paulson was a senior banker with Goldman Sachs and Mr Wang worked for China Construction Bank.

Mr Paulson congratulated Mr Wang on his new appointment, saying: 'It's great for me to address you as vice-premier now. I am looking forward to working closely with you as we prepare for the next Strategic Economic Dialogue session.'

Mr Wang was appointed a vice-premier to oversee the nation's financial policies last month and is being seen as a replacement for Wu Yi as a troubleshooter on international trade affairs. Ms Wu stepped down as a vice-premier last month. Mr Wang will replace her in leading the Strategic Economic Dialogue between Beijing and Washington.

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