With Morgan Stanley ‘Close’ To Lead Underwriting Facebook’s IPO, This Goldman Banker Won’t Be In A Good Mood

George Lee

The news that Morgan Stanley is “close” to leading Facebook’s IPO will not sit well at Goldman Sachs.

Sure, the report on Facebook’s IPO said Goldman would have a “major role.” But for Goldman Sachs, on IPO like Facebook, the only acceptable “major role” is “lead underwriter.” And that’s the role it is missing.

That means it’s a bad day for the Goldman’s tech, media and telecom banking team. It means it’s an even worse day for the group’s co-head and key banker to Facebook at Goldman, George Lee.