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Abstract
Goldman Sachs, the only remaining private partnership of the major investment banks, took on Greg Palm as co-worldwide general counsel in May of last year. Affable and discreet, Palm is a product of another venerable New York institution, Sullivan & Cromwell. At Goldman, Palm was immediately made one of the 161 partners in the firm and is reputed to be Europe's highest paid in-house lawyer. The bank has successfully expanded its global business. The legal department has grown with the bank and the number of lawyers is expected to increase further. Palm views his role princpally as a counsellor and advisor on major projects and problems and also as a manager and developer of a global legal department. Sullivan & Cromwell has historically been the bank's chief outside counsel, and that firm's ties with the legal department are strong. Palm plays down this link, reporting that the bank has significant relationships with law firms in all the cities where it has offices.