x Abu Dhabi, UAESaturday 22 July 2017

Goldman Sachs boss in talks with Dewa top brass in Dubai

The top man at one of the world's biggest banking institutions, Lloyd Blankfein of Goldman Sachs, has held talks in Dubai with Dewa.

One of the world's most influential bankers Lloyd Blankfein, chairman and chief executive officer of Goldman Sachs, has held talks with top brass at the Dubai Electricity and Water Authority (Dewa).

The Goldman Sachs boss, whose take home pay for last year was recently revealed to be $19 million (Dh101m), met with Saeed Mohamed Al Tayer, managing director and CEO of Dewa, who pressed the case for 'mutual collaboration' between the organisation and the banking giant on energy-related matters.

Mr Blankfein was also joined by Wassim Younan, CEO-MENA, Dubai and Richard Gnodde, Co-CEO, Goldman Sachs International, London.

A statement issued by Dewa said: "The two sides exchanged their views on the whole economic situation and the opportunities for investment in the energy sector."

His visit comes ahead of next week's Global Energy Forum in Dubai, where experts from around the world will gather to discuss the financing of future power projects.

It is understood that Mr Blankfein plans to fly back to the US early this afternoon where Goldman Sachs is at the centre of a controversy surrounding the manipulation of the price of derivatives linked to subprime mortgages in 2007. A senate committe yesterday published a 650-page report that followed a two-year investigation into the financial crisis.