Goldman Sachs 2002 Annual Report Download - page 23

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MILAN NEW YORK
TOKYO NEW YORK
Despite the dramatic downturn in
corporate activity, Goldman Sachs
remained a market leader in Invest-
ment Banking, ranking number one
in announced and completed global
mergers and acquisitions and in
worldwide public common stock
issuances.(1) And while business
volumes declined, we continued to
strengthen existing relationships and
establish new client relationships
through an unmatched combination
of thoughtful, strategic analysis and
advice, superior execution and a
commitment to absolute integrity in
everything we do.
2003 will continue to provide
challenges as well as opportunities.
Our clients need objective advice and
nimble strategies as they reevaluate
their growth opportunities and consider
various types of transformations.
Our pursuit of excellence and
commitment to provide thoughtful and
balanced financial advice to our clients
will never lag, even in difficult years.
INVESTMENT BANKING —LEADERSHIP AS A FIXED POINT IN A CHANGING MARKET
PHOTOGRAPHED AT THE BRITISH MUSEUM, LONDON
(1) Thomson Financial Securities Data — January 1, 2002 through December 31, 2002.