The Business On... Michael Sherwood, Vice chairman, Goldman Sachs
Wednesday 23 March 2011
Another one of "God's bankers"?
Actually, Goldman chief executive Lloyd Blankfein was joking when he said the bank was doing God's work and he doesn't like people harping on about it. But Mr Sherwood is indeed one of the chosen – now he's being tipped as a successor to Mr Blankfein, having been named yesterday as chairman of the bank's partnership committee, a job his boss once did.
And he's British?
That's right. Educated at Westminster School and then Manchester University – he joined Goldman on graduation 25 years ago this summer – Mr Sherwood is based in the bank's London office. He and wife Melanie live in a rather nice pad overlooking Regent's Park.
That must of cost a bob or two?
Mr Sherwood can afford it. His career at Goldman is thought to have netted him a fortune worth £200m plus.
What does he spend it on?
Well, he and his wife are benefactors of the arts, giving generous donations to the Tate Modern in particular. Mr Sherwood is a football fan, too. He had a stint on the board at Watford, alongside Elton John, but his team is Tottenham – he shelled out £400,000 on a 1.6 per cent stake in the club a little while back.
He's a man's man then?
Actually, Mr Sherwood rejects all the machismo stuff – he's talked publicly about the need to increase the number of women partners at Goldman and insists investment banking is unrecognisable from the testosterone-fuelled days of the Eighties.
Any friends in high places?
Well you don't spend more than 20 years as a senior banker without making a few useful contacts. He met Samantha Cameron when he headed up a consortium that bought and sold Smythson, the luxury goods company where she worked. And he knows Philip Green well, having worked with the retail mogul on his unsuccessful bid for Marks & Spencer.
Will he make it to the top job?
He has every chance. Aged 45, time is on his side and he's liked. Colleagues describe him as witty and charismatic. Get on his good side now.
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