Overconfident Goldman Sachs partner begins “adorable love story” at the company

An internship at an investment bank is about getting a re-entry offer and turning it into a full-time analyst position, but according to a Goldman Sachs partner, it’s also about making friends and maybe even meeting your future spouse.

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Elizabeth Reed, a partner at Goldman and head of U.S. equity syndication, told Business Insider that when she interned at Goldman in the summer of 2006, her future husband was also an intern. He was also in her analyst class at the time. However, they didn’t meet until they were both vice presidents (VPs), Reed says, and that’s when they began a “wonderful love story,” even though he was working “ridiculous hours” while they were both preparing to become managing directors (MDs). “I knew immediately he was the one for me,” Reed recalls. They met through municipal bonds.

Reed’s husband has since left the firm to work in investment, but Reed stayed because, she says, “I love Goldman Sachs.” She says life as an intern and junior banker is the “opposite” of loneliness. — Although you sometimes work long hours, you’re around “great people,” and Reed says that in her time, the interns, analysts, associates and vice presidents all had dinner together.

She didn’t just meet her husband at GS. “Some of my closest friends, my first New York friends, I met either during my internship or during my first years at Goldman,” Reed recalls. At Goldman Sachs, it’s all about colleagues, she added: “The work is the work, but it’s really the people I like the most.”

Elaine Foo, now 49, on the other hand, does not seem to have had a very good time at Bank of America. There she was head of sales for the EMEA region and worked in the bank’s family office team until 2016.

While working on the BofA trading floor, the 5’2″ Foo was reportedly “uncomfortable with her height” and was bullied and harassed because of her small stature. She decided to do something about it and had her legs lengthened surgically.

Today, Foo works for SDAX, Singapore’s digital asset exchange. After the operation, she is 5’6″ tall, but it wasn’t easy. The leg lengthening operation initially left one leg 6″ shorter than the other and meant “five years of hell” during which Foo had to use crutches. She has just reached an out-of-court settlement with the surgeon. It might have been easier to just leave BofA.

In the meantime

Regret about the end of the partnership with Goldman Sachs. “The whole culture has changed. It has become much more ruthless and less familial.” (Guardian)

Goldman Sachs employee Anthony Viggiano, 27, was sentenced to 28 months in prison after passing on insider tips to friends. “There is no excuse for my past actions. The blame lies with no one else but myself.” (Bloomberg)

In preparation for the expected recovery in M&A revenue, Morgan Stanley has appointed another co-head of investment banking, bringing the total to three: Mo Assomull, Eli Gross and Simon Smith. (Bloomberg)

Bank executives see an opportunity for more mergers and acquisitions in the energy sector, which will bring unexpectedly high fee income. Capital markets hope this will inject fresh money into pipelines, liquefied natural gas terminals and power transmission capacity – and perhaps even into a new commitment to nuclear energy infrastructure. (Bloomberg)

U.S. leveraged loan issuance this year of nearly $670 billion is already more than double the volume for all of 2023 and not far off the nearly $800 billion total for 2021, which was by far the busiest year in the past five years, according to Bloomberg BQNT data. More than 90 percent of those loans, which mostly finance private equity buyouts, were made to refinance more expensive debt, some of which came from private loans.

Citi promoted Jamie Miller as its new head of electronic equities trading in EMEA, just eight years after he was hired as a graduate. (The Trade)

PwC’s China unit has lost around two-thirds of its accounting revenue from clients listed in mainland China this year, apparently as a result of its audit of bankrupt property giant Evergrande. (Financial Times)

Hedge fund billionaire Kenneth Griffin paid $44.6 million at Sotheby’s on Wednesday for an almost complete Stegosaurus skeleton. It is called “Stan.” (WSJ)

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