Goldman Sachs Asset Management chief O'Neill to retire
February 6, 2013 7:14 AM EST
Jim O'Neill, the chairman of Goldman Sachs Group Inc's
He is perhaps best known for coming up with the BRIC acronym in 2001, which identified Brazil, Russia, India and China as top emerging markets where investors could put their money for high returns. He proclaimed that those emerging economies, China's in particular, would help drive markets and world economic growth for the next decade.
O'Neill, once described as the world's first rock star economist for his talent on predicting movements in the $1 trillion-a-day foreign exchange markets, continues to be bullish on China.
O'Neill's calls have been broadly accurate, except for his belief that the world economy was not in trouble during the financial crisis.
In the memo, Blankfein said: "Jim is an influential economist and thought leader, and is regarded as an expert in the world's foreign exchange and bond markets."
(Reporting By Lauren Tara LaCapra and Jennifer Ablan; Editing by Gerald E. McCormick and Leslie Adler)
Most Popular Slideshows
- Taylor Swift Named Forbes' Second Highest Paid Country Musician [PHOTOS]
- Forever Lost: Indescribable Anguish for Malaysia Airlines MH17 Families, Remains of Some Victims May Never Be Found (PHOTOS)
- Lunch with the Gods: Pope Francis Eats with Vatican Workers in Cafeteria
- Transfer News: FC Barcelona Shockingly Sign Valencia Defender [PHOTOS]
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Richard Norris' Successful Face Transplant Lands Him in GQ Cover [WATCH VIDEOS]
- Japanese Whalers End Pacific Hunt with 115 Whales Dead and No Disruption from Sea Shepherd
- A Mother Of Two Dies While Undergoing Stem Cell Treatment
- Breaking Discovery: Industrial Pollution Reached South Pole by 19th Century
- Human Guinea Pigs for Google Health Projects