Mighty Goldman Sachs [1] had a tremendous 2007, a year that people still are talking about, almost wistfully. It was common to suggest that if the bank had a weakness, it was in hedge funds. But Financial News Online notes that the bank also lost its luster in the equity capital market arena. It fell from the top spot to fourth globally, and from the top spot in the U.S. to second nationally. It has announced a shakeup to put itself back on top, but my sense is that it could be tough year for ECM business units. I do not think that offerings will offer a lot of growth over last year. Other products will have to pick up the slack. But I'm not sure which ones offer much promise in 2008.  

For more:
- here's the Financial News Online article [2]

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Who won and who lost in 2007? Article [4]
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