Jim O'Neill (aka Mr Bric and Red Knight) to retire from Goldman Sachs
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Tuesday 05 February 2013
Jim O'Neill, the Goldman Sachs economist credited with coining the "Brics" acronym to refer to the fast-growing economies in Brazil, Russia, India and China, will retire from the Wall Street bank later this year.
The 55-year-old, who grew up in Gatley, Manchester, has spent nearly two decades with Goldman, joining as a partner co-head of economics research in 1995. In 2010, he took over as chairman of the firm's asset management business.
"He has identified revolutionary economic trends, defining the concept of the Brics which has become synonymous with the emergence of Brazil, Russia, India and China as growth opportunities of the future," Goldman's chief executive Lloyd Blankfein said.
A well known Manchester United fan, and one of the Red Knights who tried to buy the club in 2010, Mr O'Neill came up with the Brics concept in 2001, long before many on Wall Street and in the City woke up to the opportunities presented by the fast-growing markets. "Jim's Bric thesis has challenged conventional thinking about emerging markets and, as a result, has had a significant economic and social impact," Mr Blankfein said.
- 1 The West has it totally wrong on Lee Kuan Yew
- 2 Watch: Man takes selfie every mile of 2,600 mile hike, creates amazing timelapse video
- 3 The day I starred in Only Fools and Horses
- 4 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
- 5 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
Germanwings captain Patrick Sondenheimer tried to break into locked cockpit door 'with an axe' as plane was descending
Saudi Arabia says it won't rule out building nuclear weapons
The battle for the Middle East's future begins in Yemen as Saudi Arabia jumps into the abyss
Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
#FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Revealed: Putin's army of pro-Kremlin bloggers
Germanwings plane crash: Co-pilot Andreas Lubitz wanted to 'do something people would remember him for'
Andreas Lubitz: Knee-jerk reaction to 9/11 enabled mass murder
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...