1、ANNUAL REPORT 2000H_COVER 2/8/01 1:47 PM Page 12 Letter to Shareholders 4 Our Core Businesses 5 Financial Highlights6 Culture12 Innovation18 Execution24 The Goldman Sachs Foundation25 Financial Information76 Board Members,Officers and Directors82 International Advisors and Offices83 Shareholder Info
2、rmation 84 Our Business PrinciplesTABLE OF CONTENTS 2001,The GExcept whereand“our”in tand/or its subdepending on All marks indiof Goldman,SNew York Stocwith the permi4350-00-10H_COVER 2/8/01 4:36 PM Page 21COMMITMENTfoundation and fuel throughout our 131-year history.Clients have come to valueour co
3、mmitment to helping them innovate and execute ambitious strategies.Forsome clients,our commitment to innovation helped them become formidable global competitors.For others,our commitment to the superior execution of complex dealsreinforced their trust in us and contributed to their continued success
4、.As a firm,wepride ourselves on our high level of client service.The people of Goldman Sachsremain committed to our culture of innovation and execution that enables us todeliver for our clients.Commitment is rooted in Goldman Sachs distinctive culture;it has been our H_1-24 2/8/01 2:37 PM Page 32200
5、0 was a remarkable year for Goldman Sachs and a rewardingone for our shareholders.In our first full year as a public company,weposted record earnings(1)of$3.25 billion,up 27%from$2.55 bil-lion in 1999.Earnings per diluted share rose to$6.35,a 20%increase from$5.27 in 1999.And our return on equity re
6、ached 27%.These results reflect more than a very good year for a number ofour businesses.They are also evidence of our continuedprogress toward our goal of becoming the preeminent,globalinvestment banking and securities firm.This goal is underpinned bya strategy that emphasizes expanding in key mark