GOIH Capital Markets: Investment Banking News

Goldman Sachs insiders net $16 million amid share surge
2 November 2007
Ian Allison, London


Two of Goldman Sachs' most senior insiders have between them sold $16.3 million taking advantage of the bank’s surging share price.
David Viniar executive vice president and chief financial officer of Goldman Sachs Group, sold 20,000 shares of common stock in the bank, raising $4.7 million, or an average of $234.60 a share. He continues to hold 809,151 shares directly.
Also taking advantage of Goldman’s surging share value, Gregory Palm, executive vice president and general counsel, sold 50,000 shares for $11.6 million, or an average of $227.61 a share. He continues to own 812,938 directly, with another 196,313 shares held indirectly through trusts and a limited liability company.
Goldman, the biggest and most profitable of the big investment banks, booked $4.9 billion of fixed-income profit in its most recently completed quarter, while its rivals were pummelled by illiquid credit markets and