The significance of Goldman and Sumitomo's role reversal

Sumitomo''s relationship with Goldman is not a new one, although in our view it does reflect a telling reversal of the relative power of Japanese and US financial institutions.
January 18, 2003

One of the most ironic things about Goldman's acquisition of a $1.2 billion stake in Sumitomo Mitsui Bank Corp is the fact that it used to be the case that Sumitomo Bank was the shareholder in Goldman.

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