Wednesday, May 5, 2010

$GS – “clients prepare to sever Goldman ties” may break off its relationship w/Goldman

Capricorn Investment Group, one of the world's biggest family offices, could break its relationship with
Goldman Sachs following accusations by the US financial watchdog that the firm misled clients over mortgage trading.

The California-based firm is the first big client known to be reviewing ties with the investment bank in the wake of the fraud allegations which stunned the financial world, but dozens of others are said to be considering their relationship.

Capricorn, headed by Stephen George, a former Goldman banker, manages around $7bn for its high-profile investors, which include the former US vice-president, Al Gore. The firm's executives are understood to be so angry with Goldman that they are deciding whether to continue using the firm for business transactions.

The Independent_ Clients prepare to sever Goldman ties

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