Chapter 3
The Structure of the Partnership
WHEN I WAS A GOLDMAN ASSOCIATE IN THE LATE 1990S, I was asked to prepare materials for and attend a meeting with a senior partner and an unhappy client. It was unclear whether the client was not happy with the firm or with the junior partner in charge of the relationship, so the junior partner was asked not to attend.
During the meeting, the client, a CEO, said he thought very highly of Goldman but that he felt the junior partner in charge had acted inappropriately by speaking to one of his board members about something that the client felt should have been directed to him first. And when the board member called the CEO, the client was caught off guard. The client told us that if that junior partner ...
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