In 2018, Sundaram helped arrange a financing deal for a Brazilian power plant with similarly lofty profits. In this case, Goldman returned some to the client, according to a person familiar with the transaction. And there was a scuttled financing deal with WeWork last year that would have meant $500 million in fees and warrants for Goldman's coffers, according to a person familiar with the deal. The two sides didn't come to an agreement.
To some, his continued rise is further evidence that at Goldman, profits still come before everything else.Sundaram is a product of the prestigious Indian Institute of Technology system who traveled to the US to attend the University of Rochester's business school. He joined Wall Street and worked his way up at Morgan Stanley before joining Goldman in 2001. He soon began building PFI.
: Goldman Sachs designed its glitzy London office with tons of amenities, but little parking. In a post-pandemic world, it could be a big snag as the firm looks to bring workers back in. He may also have flouted Goldman's informal culture of reaching consensus, clashing with other partners in the division. He repeatedly went behind the back of Justin Gmelich, a former global credit chief, to sway higher-ups on decisions about where a trade would live or what activities Sundaram could be involved in, according to a person familiar with his actions.
The deal required WeWork to place its most prized assets, including building leases and intellectual property such as the "We" name that cofounder Adam Neumann trademarked and sold back to the company, in a separate legal entity. If WeWork violated the loan terms, Goldman would be able to seize the assets.
Months later, after WeWork's initial public offering fell apart, more than two dozen bankers and WeWork executives convened at JPMorgan's headquarters to sort through the firm's financing options. Showing up without an invite, Sundaram showed off his combative style, according to someone who was there, and proclaimed that the only viable option was a SoftBank bailout.
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