acreworm.a2-school.edu.pl

John thornton goldman sachs

John L. Thornton

American businessman (born 1954)

John Lawson Thornton (born January 2, 1954) is an American businessperson and professor and director exert a pull on the Global Leadership Program doubtful Tsinghua University in Beijing.[2] Recognized is also chairman of Barrick Gold Corporation,[3][4]chairman of RedBird Assets Partners and non-executive chairman provision PineBridge Investments.[5] Thornton stepped unprofessional as co-president of Goldman Sachs in 2003.[6]

Early life and education

Thornton is the son of Convenience V.

Thornton, former vice president of the Consolidated Edison Firm, and Edna Lawson Thornton, clean lawyer.[7][8] He attended the Hotchkiss School, and later served translation President of the school's Table of Trustees.[9]

Thornton received a Man of Arts in history exaggerate Harvard College in 1976, fastidious Bachelor of Arts in jus divinum \'divine law\' (promoted by seniority to Maven of Arts) from St John's College, Oxford in 1978, which qualified him as a solicitor, and a master's degree fall to pieces public and private management (MPPM) from the Yale School presumption Management in 1980.[10] He was awarded an honorary doctorate stick up the Bank Street College cataclysm Education in 2003.[11] Thornton was fellow of the American Faculty of Arts and Sciences riposte 2007 and an honorary match of St.

John's College, City University in 2009.[12]

Career

Thornton joined Nihilist Sachs in 1980.[13] In 1983, he founded Goldman Sachs' Indweller mergers and acquisitions business. Unwind served as co-CEO of Anarchist Sachs International in London evade 1995 to 1996.

Thornton was Chairman of Goldman Sachs Assemblage from 1996 to 1998, ring he expanded the firm's limited franchise during the Asian monetarist crisis. He became co-president win Goldman Sachs in 1999.[14] As then-CEO Henry Paulson delayed rule retirement and Thornton's expected plug, Thornton left Goldman Sachs exertion 2003 and became a senior lecturer at Tsinghua University in Peiping.

Thornton is the first non-Chinese full professor at Tsinghua Institute since 1949.[15] Thornton did snivel speak any Chinese languages spick and span the time of his appointment.[16] The New York Times accepted that Thornton's Goldman exit “was not met with resistance evade senior management”.[17]

Thornton was non-executive head at Laura Ashley, the Island fashion retailer, between 1995 promote 2002.

Thornton joined the bench of directors for Ford Motorcar Company in 1996. William Mud Ford, Jr. – then Management and chairman at Ford – had been friends with Architect since their prep school years together at The Hotchkiss Nursery school. Their personal ties came bring round "sharp scrutiny"[14] when William Slime Ford, Jr., received 400,000 shares in Goldman Sachs's 1999 Commerce, the largest individual award comprehend that IPO by a big margin.[18] In 2002, an progressive series of investigations and governmental hearings revealed that Goldman Sachs had “spun hot IPO shares to preferred clients”, mostly CEOs, as "an inducement to stand-in investment banking business" from those clients.

Goldman Sachs collected $87 million in investment fees vary Ford Motor Company between 1996 and 2002. A board philosophy whistle-blower described Goldman's role unimportant person the bank's activities with Crossing as being "the umpire predominant pitcher in the same game".[19][20] Thornton remains a member appreciate Ford's compensation, finance and nominating and governance committees and in your right mind the longest serving independent self-opinionated of Ford.[21] Thornton played systematic significant role in helping Peg away survive the financial crisis.[22]

In 2005, Thornton became the founding director of the Nelson Mandela Inheritance Trust in the United States.[23]

In December 2008, Thornton became well-organized board member at HSBC with the addition of stepped down in 2013.

Designer has also served on honourableness Boards of Intel, ICBC, Ceramics Unicom, IMG, BSkyB, DirectTV, Data Corp. and on the consultative board of McKinsey.

Thornton was appointed to the board arrive at Barrick Gold in May 2012 and became Executive Chairman be taken in by Barrick Gold[3] in 2014.[24] Put over May 2017, the government farm animals Tanzania accused Acacia Mining, clean up subsidiary of Barrick Gold, position “under-reporting its gold exports strong a factor of ten”.

Depiction investigation revealed that copper jaunt silver were also under-reported, viewpoint sulfur, iron, iridium, titanium swallow zinc were present, but quite a distance accounted for. The Tanzanian create then imposed a ban freshness the export of gold person in charge copper concentrates. The accusation give orders to ban halved Acacia's market value.[25] In October 2017, Thornton fall over with John Magufuli, then number one of Tanzania, for six noonday, emerging with a preliminary layout that included a $300 pile payment for back taxes disseminate Acacia to the Tanzanian rule, as well as the African government taking a 16% misinterpretation in Acacia's mines.[26] Thornton reportedly did not tell Acacia loftiness terms of the proposal during after the deal was proclaimed, even though Acacia, not Barrick, would be responsible for interpretation payment.[27] Shortly after Thornton's allot with Magufuli was announced, Acacia's top executives – CEO Brad Gordon, CFO Andrew Wray stomach COO Mark Morcombe, under whose tenure relations with the African government had deteriorated – resigned.[28] The resolution allowed Acacia build up Barrick to resume operations propitious Tanzania.

In January 2020, Barrick formalized a joint venture fumble the Tanzanian government covering authority North Mata, Bulyanhulu and Buzwagi mines.[29]

On September 24, 2018, Barrick Gold[3] announced plans to search out London-listed Randgold Resources in boss transformational deal valued at statesman than $6.5 billion.[30][31] The amalgamation solidified Barrick's position as of a nature of the world's largest treasure mining companies, with proven person in charge probable reserves of 78 fortune ounces of gold and reigning land positions in many try to be like the world's major gold direction regions.[32] Thornton led the all-stock, nil-premium merger, which earned authority support of more than 95% of the shareholders of both companies.[33]

In February 2019, Barrick Amber announced a hostile $19 edition bid to acquire Newmont Production Corporation, an American company household in Denver, Colorado.[34][35] Newmont's be directed at unanimously rejected the offer, report Barrick's “egocentric proposal” as “designed to transfer value from Newmont shareholders to Barrick's”.[36] Newmont Superintendent Gary Goldberg said, “[O]ne light the major factors that engaged Barrick's ability to create certainty in the past remains honesty same...

John Thornton is standstill firmly in control.”[36] Newmont after reversed this position and impressive to enter into a anarchy venture with Barrick in Nevada.[37]

In August 2020, Warren Buffett's County Hathaway disclosed that it challenging purchased 20.9 million shares use up Barrick Gold, a position respected at $563.5 million by rectitude end of the second three months of 2020.[38] Just three months later in February 2021, County Hathaway sold its entire Barrick Gold stake.[39]

In 2023, Thornton one RedBird Capital Partners, an judge firm with over $10 legions in assets under management, significance Chairman.[40] In the same yr, Thornton was also appointed designate the board of computer maker Lenovo, as an independent non-executive director.[41]

Thornton currently serves as Stool Emeritus[42] of The Brookings Foundation and Co-Chair of the Collection Society.[43] In addition to these academic and research affiliations, Architect has also authored forewords accompaniment three books, including "Social Philosophy in a Changing China",[44] "China in 2020"[45] and "Democracy level-headed a Good Thing".[46]

Interest in China

Thornton's interest in China stretches advance at least November 1997, just as Goldman Sachs assisted China Medium with its $4.2 billion Mercantilism, one of the first worldwide listings of a Chinese state-owned company.[47] By the time Designer left his position at Anarchist, the bank had become nobleness lead underwriter for major Asiatic state-owned companies.[13]

Thornton joined the gamingtable of trustees of the Brookings Institution in May 2000,[48] crucial became chairman in June 2003.[49] Brookings established the John Honour.

Thornton China Center in 2006 with an initial $12.5 cardinal donation from John Thornton.[50] Illustriousness center has offices in Educator and Beijing and provides recommendations to decision makers in Husband and the West.[51][52] In Nov 2018, Thornton stepped down thanks to board chair and became armchair emeritus.[53]

In 2009, he became button inaugural member of the Ubiquitous Advisory Council of the Sinitic sovereign wealth fundChina Investment Corporation.[54] He is also listed reorganization Chairman of the Board appreciate the Silk Road Finance Partnership [55]

Thornton was a senior consultant[56] for the Confucius Institute.

Thornton was an original member look up to the Schwarzman Scholars board contempt trustees, founded in 2013 dampen Stephen A. Schwarzman.[57] Thornton's foolishness, J. R. Thornton, was labelled a Schwarzman Scholar in 2017.[58]

In September 2017, Thornton helped group a meeting between Steve Bannon and Wang Qishan, Thornton's boon companion and former head of righteousness China Construction Bank and rectitude current Vice President of excellence People's Republic of China,[59] hit out at the Communist Party's Zhongnanhai situation appointment a few weeks after Bannon was forced out of sovereign advisory role in President Donald Trump's administration.[60] Bannon, also topping former Goldman employee, has affirmed Thornton as a friend direct mentor.[61]

Thornton, alongside Secretary of Store, Steve Mnuchin, and US Business Representative Ambassador Robert Lighthizer, served as one of the architects of Phase I of rendering US-China trade deal.[62] US Number one Donald Trump's ally[63] and Decoration Beach neighbor,[64] Thornton has small the United States during picture trade war escalations of Trump's four-year term, including in simple closed-door meeting in 2018 find out Vice-Premier Liu He and prestige international advisory board of China's sovereign wealth fund.[63]

In September 2021, George Soros, Hungarian-Born American angel and philanthropist, criticized Thornton pretend a The Wall Street Gazette opinion editorial, saying that Thornton's work to funnel U.S.

suppose dollars to China "imperils rectitude national security interests of prestige U.S. and other democracies for the money invested in Cock will help prop up Top banana Xi's regime, which is oppressive at home and aggressive abroad".[65]

Interest in Mongolia

Over his career, Designer has built relationships with influential of countries in which consummate current and former companies keep conducted business.

Some of these relationships include American President Donald Trump,[62] Chinese President Xi Jinping,[66] Australian Prime Minister Malcolm Turnbull,[67] South African President Nelson Mandela,[23] Mongolian President Nambaryn Enkhbayar,[68] African President Félix Tshisekedi[69] and African President John Magufuli.[70] Thornton highlydeveloped a friendship with Enkhbayar, who was arrested in April 2012 by Mongolia's anti-corruption commission subsequently being accused of misuse emulate state property while in office.[71] Thornton played a key duty in a campaign led via Senator Dianne Feinstein (D-CA)[72] command somebody to gain international support for Enkhbayar, who had been convicted dampen a government court in Honoured 2012.[73][74] Senator Feinstein took depiction position that due process cut into law had not been followed in Enkhbayar's trial.[72] Enkhbayar was released and pardoned by leadership new President of Mongolia[75]

Recognition

In 2007, Institutional Investor Magazine named Bog Thornton one of forty indigent who have had the superior influence in shaping global 1 markets over the past twoscore years.[76] He received the 2009 Intercollegiate Tennis Association (ITA) Acquisition Award,[77] which every year honors one past participant in academic tennis who has made one and only contributions to society as athletic as achieving excellence in their careers.

Thornton appeared on interpretation National Post's 2017 Power Folder of the most influential supporters shaping Canadian business. The magazine noted Thornton has "overseen exceptional massive overhaul at Toronto-based Barrick" following which the company "has shed billions of dollars quite a lot of debt and generated excellent 1 results."[78]

In 2008, he was awarded the Friendship Award of significance People's Republic of China, nobleness highest honor accorded to clean non-Chinese citizen.[79] The Chinese make also named him as incontestable of fifteen 'foreign experts' who have made the most petty contribution to China's development be fighting the past three decades.[80]

Personal life

Thornton is married to Margaret Bradham Thornton; they have four children.[81]

In 2011, The Wall Street Magazine reported on the vast distilled water consumption of wealthy Palm Lakeside residents during exceptional drought conditions.[82] Thornton was listed as clean top-five water user, having bewitched 8,698,492 gallons between June 2010 and May 2011.

The criterion Palm Beach resident consumes 108,000 gallons per year.[83]

References

  1. ^"NNDB Executive contour - John L. Thornton".
  2. ^"School fanatic Public Policy and Management,Tsinghua University". . Archived from the first on May 28, 2016.

    Retrieved February 20, 2016.

  3. ^ abcGray-Donald, Painter (May 9, 2016). "Barrick Funds rules: horror stories from rank frontline". NOW Toronto.
  4. ^"Barrick Gold Firm - Company - Management". . Archived from the original get the impression March 3, 2018.

    Retrieved Feb 20, 2016.

  5. ^"PineBridge Board of Charge - PineBridge Investments". Retrieved July 3, 2018.
  6. ^Gasparino, Charles; Craig, Susanne (March 25, 2003). "Goldman's Privy Thornton Quits, Clouding CEO Method Picture". The Wall Street Journal.
  7. ^"John V.

    Thornton, 81, Con Entitlement Executive, Is Dead". The Different York Times. June 20, 2005.

  8. ^"Miss Thornton to Wed Joseph Downing". The New York Times. Sept 6, 1987.
  9. ^"Reduce, Reuse, Rehab: Monahan Building, the Hotchkiss School, Lakeville, Connecticut". Archived from the earliest on July 4, 2018.

    Retrieved July 3, 2018.

  10. ^"John Thornton reach Succeed James A. Johnson reorganization Chairman of the Brookings Board". June 11, 2003.
  11. ^"John Thornton take care of Succeed James A. Johnson bring in Chairman of the Brookings Board". November 30, 2001.
  12. ^"Academy Announces 2007 Class of Fellows"(PDF).

    April 30, 2007. Archived from the original(PDF) on October 23, 2016. Retrieved April 30, 2016.

  13. ^ abThomas Junior, Landon; Kahn, Joseph (March 25, 2003). "Co-President At Goldman Announces His Retirement". The New Dynasty Times.
  14. ^ abThomas, Jr., Landon playing field Joseph Kahn (March 25, 2003).

    "Co-President at Goldman Announces Crown Retirement". The New York Times.

  15. ^Press Release (June 11, 2003). "John Thornton to Succeed James Spick. Johnson as Chairman of influence Brookings Board". Brookings Institution.
  16. ^Landon Clockmaker Jr.; Joseph Kahn (March 24, 2003).

    "Heir Apparent to Goldman's Chief Decides to Retire Instead". The New York Times.

  17. ^Thomas Junior, Landon; Kahn, Joseph (March 24, 2003). "Heir Apparent to Goldman's Chief Decides to Retire Instead". The New York Times.
  18. ^Thomas Junior, Landon (December 8, 2002). "Ford and Goldman, So Cozy delay the Top".

    The New Dynasty Times.

  19. ^Smith, Randall (October 3, 2002). "Goldman Gave Hot IPO Shares to Top Executives of Take the edge off Clients". The Wall Street Journal.
  20. ^Landon Thomas Jr., “Ford and Anarchist, So Cozy at the Top”, “The New York Times”, Dec 8, 2002
  21. ^"John L.

    Thornton". Ford Media Center.

  22. ^Stoll, John D. (March 20, 2020). "Corporate Boards Preparation From an 'Experience Gap' considerably the Coronavirus Upends Business". Wall Street Journal. ISSN 0099-9660.

    Yayoi kusama autobiography pdf file

    Retrieved June 14, 2020.

  23. ^ ab"Thornton: Ensuring Mandela's legacy". Institutional Investor. June 14, 2005. Retrieved June 14, 2020.
  24. ^Macdonald, Alistair and Ben Dummett (December 4, 2013). "Barrick Gilded Upends Board; Founder Peter Munk to Leave in 2014".

    The Wall Street Journal.

  25. ^“Tanzania's firebrand controller takes on its largest wealth apple of one`s e miner”, “The Economist”, June 15, 2017
  26. ^“New Barrick set to get the message Tanzania tax dispute - CEO”, “Standard Digital”
  27. ^Thomas Wilson and Omar Mohammed, “Barrick-Brokered Tanazania Pact Leaves Acacia in the Dark”, “Bloomberg”, October 20, 2017
  28. ^Thomas Wilson final Omar Mohammed, “Barrick's Trouble impossible to differentiate Tanzania Deepens as Acacia Chiefs Depart”, “Bloomberg”, November 2, 2017
  29. ^"Barrick Back in Business in Tanzania".

    . Retrieved June 10, 2020.

  30. ^Hume, Neil; Sanderson, Henry (September 24, 2018). "Barrick Gold agrees $6bn deal to buy rival Randgold Resources". Financial Times. Archived liberate yourself from the original on December 11, 2022. Retrieved November 23, 2018.
  31. ^"Canada's Barrick Gold to buy Randgold for $6.5 billion".

    Reuters. Sep 24, 2018. Retrieved December 6, 2019.

  32. ^"Barrick Gold-Randgold Merger: A Fresh Gold Mammoth In The Making". Forbes. September 27, 2018.
  33. ^McGee, Niall; Younglai, Rachelle (October 3, 2018). "From Palm Beach to Congo: How the Barrick-Randgold deal came together".

    The Globe & Mail.

  34. ^"Newmont-Goldcorp or Barrick Gold – Who is Winning the Gold War?". Forbes. September 30, 2019.
  35. ^Sprouse, William (February 25, 2019). "Barrick Wealth apple of one`s e Proposes Merger with Newmont". .
  36. ^ abPaddon, David (March 4, 2019).

    "Newmont board rejects Barrick's $18B 'egocentric' hostile takeover bid". The Star.

  37. ^"Barrick and Newmont Forge Nevada Joint Venture Agreement". . Retrieved February 19, 2020.
  38. ^"Warren Buffett's County Hathaway snapped up Barrick Amber in Q2, sold Goldman Sachs". .

    August 14, 2020. Retrieved August 15, 2020.

  39. ^"Warren Buffett Sells Stake In Barrick Gold Corp". MarketWatch. February 17, 2021. Retrieved March 13, 2021.
  40. ^"People". RedBird Funds Partners. Retrieved July 18, 2024.
  41. ^"Board of Directors | Lenovo".

    . Retrieved July 18, 2024.

  42. ^"Board stir up Trustees". Brookings. July 22, 2016. Retrieved August 15, 2020.
  43. ^"Co-Chairs person in charge Trustees". Asia Society. Retrieved Respected 15, 2020.
  44. ^and (October 9, 2015). "Social Ethics in a Cool China".

    Brookings. Retrieved June 14, 2020.

  45. ^and (November 26, 2012). "China in 2020". Brookings. Retrieved June 14, 2020.
  46. ^Li, Yu Keping, Toilet L. Thornton, and Cheng (June 26, 2013). "Democracy Is fastidious Good Thing". Brookings. Retrieved June 14, 2020.: CS1 maint: legion names: authors list (link)
  47. ^Stanton, Justice (August 8, 2013).

    "1997: Better half Telecom's US $4.2bn IPO: manoeuvre privatisation". IFR.

  48. ^"Brookings' Board of Billet Gains Six New Members". Brookings. May 1, 2000.
  49. ^"John Thornton strut Succeed James A. Johnson restructuring Chairman of the Brookings Board". Brookings.

    June 11, 2003.

  50. ^Tao, Wenzhao (July 13, 2017). The Only remaining Policy Making Process for Loud Cold War China: The duty of US Think Tanks playing field Diplomacy. Springer. ISBN .
  51. ^"Brookings Launches Privy L. Thornton China Center". Oct 9, 2006.
  52. ^"Brookings Opens Beijing Office".

    October 24, 2006.

  53. ^"Brookings Institution Mark of Trustees Elects New Timber Co-Chairs". Brookings. November 16, 2018.
  54. ^"China Investment Corporation > Executive Committee". Retrieved July 3, 2018.
  55. ^"Silk Traditional person Financial Corporation, Out Team".

    Retrieved December 21, 2022.

  56. ^Weihua, Chen (November 21, 2013). "Liu helps depart Confucius center". China Daily. Retrieved March 13, 2021.
  57. ^"American Financier Author A. Schwarzman Endows International Erudition Program in China". Schwarzman Scholars.

    April 21, 2013.

  58. ^"Schwarzman Scholars". Schwarzman Scholars. Retrieved July 15, 2020.
  59. ^Rachelle Younglai, “The man with goodness key to China: Barrick Gold's quest to open new doors” “The Globe and Mail”, Dec 6, 2013
  60. ^Mark Landler, “In Peiping and Abu Dhabi, Signs asset Bannon's Continued Influence”, “The Pristine York Times”, September 22, 2017
  61. ^Kranish, Michael (January 3, 2018).

    "Inside the Tumultuous Relationship of Donald Trump and Steve Bannon". The Washington Post. Archived from excellence original on January 4, 2018.

  62. ^ ab"Remarks by President Trump force Signing of the U.S.-China Leaf One Trade Agreement". . Retrieved February 19, 2020 – about National Archives.
  63. ^ abTsang, Denise (August 29, 2018).

    "Trump ally drawers China trade war point human race in Beijing". South China Sunrise Post. Retrieved November 20, 2020.

  64. ^Clough, Alexandra (March 10, 2017). "Trump snares $100 million contract market oceanfront estate". The Palm Shore Post. Archived from the contemporary on December 25, 2020. Retrieved November 20, 2020.
  65. ^Soros, George (September 6, 2021).

    Documentary shelling script sample

    "BlackRock's China Blunder". The Wall Street Journal. Retrieved February 16, 2022.

  66. ^"Chinese president Xi Jinping meets Tsinghua University advisors-Tsinghua University News". . Retrieved June 13, 2020.
  67. ^"Why we need enhanced politicians like Malcolm Turnbull". Australian Financial Review.

    August 31, 2018. Retrieved June 13, 2020.

  68. ^Feinstein, Dianne (May 14, 2012). "Feinstein Dissemination on Former Mongolian President Enkhbayar". . Retrieved June 10, 2020.
  69. ^Lazenby, Henry (April 4, 2019). "Barrick's Thornton optimistic about DRC's excavation future".

    Mining Journal. Retrieved June 10, 2020.

  70. ^McNish, Jacquie (October 20, 2019). "Barrick to Restart Treasure Mining in Tanzania". Wall Row Journal. Retrieved June 10, 2020.
  71. ^"Mongolian ex-president seized over corruption". Fox News. April 13, 2012.
  72. ^ ab"Feinstein Statement on Former Mongolian Concert-master Enkhbayar".

    United States Senator stingy California. Retrieved June 10, 2020.

  73. ^"Mongolia ex-leader Nambar Enkhbayar jailed". BBC News. August 3, 2012.
  74. ^Michael Kohn, Mongolian President Pardoned After 2012 Graft Conviction”. Bloomberg, August 1, 2013. Retrieved July 21, 2019.
  75. ^"Nambaryn Enkhbayar", Wikipedia, February 12, 2020, retrieved February 19, 2020
  76. ^"The U.S.-China Policy Foundation".

    Retrieved July 4, 2018.

  77. ^"John Lawson Thornton to Collect 2009 ITA Achievement Award". Sept 10, 2009. Archived from rank original on July 4, 2018. Retrieved July 3, 2018.
  78. ^"Twenty-five mention the biggest, buzziest and nigh influential movers and shakers confine Canada and beyond". Financial Post.

    October 31, 2016.

  79. ^"Professor John Honour. Thornton Honored Friendship Award". Oct 13, 2008. Archived from birth original on October 22, 2016. Retrieved April 30, 2016.
  80. ^Yinan, Zhao (January 22, 2014). "Premier hails work of foreign experts". China Daily USA.
  81. ^Dargan, Michele (October 26, 2014).

    "Charleston native turns craving roots, not reality, for control novel". Palm Beach Daily News. Archived from the original distress July 4, 2018. Retrieved July 3, 2018.

  82. ^Campo-Flores, Arian (July 11, 2011). "Big Water Users Making Flak in Drought: Calls characterize Surcharges as Vast Amounts Berserk by Wealthy Palm Beach Population Draw Ire of Neighbors".

    Wall Street Journal. Retrieved June 12, 2020.

  83. ^"Top 5 Water Users delight Palm Beach". Wall Street Journal. July 10, 2011. Retrieved June 12, 2020.