Goldman Sachs's Leissner Moves to Los Angeles, Takes Personal Leave - Bloomberg Business: "Goldman Sachs’s business in Malaysia. The bank’s dealings with the country’s state-owned investment company, 1Malaysia Development Bhd., drew public scrutiny because of the high fees Goldman was paid.
1MDB Bonds
Three 1MDB bond sales in 2012 and 2013 totaling $6.5 billion yielded fees, commissions and expenses for Goldman Sachs of $593 million, or about 9.1 percent of the money raised, a person familiar with the matter said earlier. 1MDB subsequently became entangled in a political scandal due to its ballooning debts and ties with Malaysian Prime Minister Najib Razak. Both the premier and 1MDB have consistently denied any wrongdoing.
Leissner was appointed as head of investment banking in Singapore in August 2002 and was made a partner in 2006. He joined Goldman Sachs in 1998 as an executive director in its mergers advisory business.
Goldman Sachs worked on $18.8 billion of Malaysian mergers and acquisitions over the past five years, making it the top foreign adviser with a 20.3 percent market share, according to data compiled by Bloomberg. The New York firm was ahead of Bank of America Corp., which had a 15.8 percent share, and beat all local rivals except CIMB Group Holdings Bhd. and Malayan Banking Bhd.
The banker was involved in a number of large transactions such as billionaire T. Ananda Krishnan’s 2009 initial public offering of Maxis Bhd., the country’s largest wireless operator. Later that year, Goldman Sachs received a license from Malaysia’s Securities Commission to set up fund management and corporate finance advisory operations in the country."
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1MDB Bonds
Three 1MDB bond sales in 2012 and 2013 totaling $6.5 billion yielded fees, commissions and expenses for Goldman Sachs of $593 million, or about 9.1 percent of the money raised, a person familiar with the matter said earlier. 1MDB subsequently became entangled in a political scandal due to its ballooning debts and ties with Malaysian Prime Minister Najib Razak. Both the premier and 1MDB have consistently denied any wrongdoing.
Leissner was appointed as head of investment banking in Singapore in August 2002 and was made a partner in 2006. He joined Goldman Sachs in 1998 as an executive director in its mergers advisory business.
Goldman Sachs worked on $18.8 billion of Malaysian mergers and acquisitions over the past five years, making it the top foreign adviser with a 20.3 percent market share, according to data compiled by Bloomberg. The New York firm was ahead of Bank of America Corp., which had a 15.8 percent share, and beat all local rivals except CIMB Group Holdings Bhd. and Malayan Banking Bhd.
The banker was involved in a number of large transactions such as billionaire T. Ananda Krishnan’s 2009 initial public offering of Maxis Bhd., the country’s largest wireless operator. Later that year, Goldman Sachs received a license from Malaysia’s Securities Commission to set up fund management and corporate finance advisory operations in the country."
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