高盛Goldman Sachs Group Inc. (GS) 2012年年度报告「NYSE」.pdf

1、Clients.Collaboration.Capital.Ideas.Growth.2012 Annual ReportThe Goldman Sachs Business Principles would,if it came to a choice,rather imagination in everything we do.become standard in the industry.We want to be big enough to undertake We constantly strive to anticipate the rapidly changing needs o

2、f our clients and to develop new services Cover:Radha Tilton,Investment Banking Division,New Yorkbeeeeb bde erclthW1Goldman Sachs 2012 Annual ReportWorking together,with our clients,across the globe.This is the business of Goldman Sachs.In a challenging and rapidly changing environment,our firm cont

3、inues to help clients grow providing the capital they need,enabling them to invest,helping them seize opportunities and managing their risks.By helping our clients reach their objectives,we help to support economic progress.2Goldman Sachs 2012 Annual ReportWhen we wrote to you last,the global econom

4、y was experiencing macroeconomic strains,punctuated by concerns over potential sovereign defaults in Europe and struggling labor and housing markets in the U.S.These concerns weighed on markets and hindered a broad-based recovery.While 2012 presented its own challenges amidst rapidly shifting invest

5、or sentiment,we are pleased to report that Goldman Sachs performed relatively well,posting solid results.This performance was the result of a competitive position defined by our deep and global client franchise,a mix of core businesses to which we have demonstrated a longstanding commitment,a health

6、y and strong balance sheet and the focus and enduring commitment of our people to our client-centered culture.Fellow Shareholders:The Operating Environment in 2012While the sovereign debt crisis in Europe and a weak recovery in the U.S.continued to persist throughout much of 2012,the deep uncertaint