Goldman's fingers

22 April 2005 By Rob Cox Follow @rob1cox

The firm s hydraheaded role in the NYSEArchipelago merger has rivals buzzing about conflicts of interest. But the real frustration may lie in the fact that Goldman managed these conflicts with aplomb and will continue to do so.

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Goldman Sachs is facing criticism from rivals over its role in the merger announced late Wednesday between the New York Stock Exchange and Archipelago Holdings, an electronic dealer.

Goldman advised both Archipelago and the NYSE in the talks. It also owns 15% of Archipelago and took the firm public.

In addition, Goldman's Spear, Leeds & Kellogg unit holds seats on the exchange and is one of the biggest specialists on the floor of the Big Board.

Finally, the NYSE's boss John Thain is a former Goldman president who still owns hundreds of millions of dollars of the securities firm's shares.

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