Northern Rock - "Fees Jamboree"

In today's Telegraph, this article goes into detail about "fees run up by bankers, lawyers and accountants for managing the crisis at Northern Rock."

The Treasury has used Goldman Sachs, the investment bank which last week announced bonuses worth $20.2bn (£10.2bn) to be shared by its 29,900 staff, and its lawyers Slaughter & May, to provide advice. Northern Rock is being advised by bank Blackstone, Citigroup and Merrill Lynch, lawyers Freshfields, auditors PricewaterhouseCoopers, and public relations firm Finsbury.

So I thought a closer look at the Major Holders behind each of this "banks" might be interesting. Personally, there seems to be way too many inter-connections here for clean hands to come out of this mess.

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Symbol Name Of Corporation GS Major Holders Goldman Sachs Group Inc. (As of 30-Jun-2007) (As of 30-Jun-2006) Top 10 Institutional Holders Shares 2007 Value 2006 Barclays Global Investors UK Holdings Ltd 22,514,539 5.55% $4,880,026,328 5.61% Marsico Capital Management, LLC 12,927,441 3.19% $2,802,022,836 3.76% State Street Corporation 12,689,794 3.13% $2,750,512,849 3.04% Vanguard Group, Inc. (The) 11,006,804 2.71% $2,385,724,767 2.47% AXA (Paris, France) 9,765,292 2.41% $2,116,627,041 3.72% FMR Corporation (Fidelity Management & Research Corp) 7,343,232 1.81% $1,591,645,536 1.47% Mellon Financial Corporation 7,078,709 1.75% $1,534,310,175 1.57% Wellington Management Company, LLP 7,053,880 1.74% $1,528,928,490 1.68% Northern Trust Corporation 6,598,370 1.63% $1,430,196,697 1.73% Janus Capital Management, LLC 6,130,098 1.51% $1,328,698,741 -.--% % of Shares Held by All Insider and 5% Owners: 3% 2% Top 10 [1%] of 1001 Institutional Holders Control 25.43% 26.88% Percentage of Barclays and "Associates" Control 13.57% 11.95%

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Symbol Name Of Corporation BX Major Holders The (As of 30-Sep-2007) Top 10 Institutional Holders Shares 2007 Value 2006 AXA (Paris, France) 34,859,767 13.72% $874,282,956 -.--% Thornburg Investment Management Inc. 6,180,200 2.43% $154,999,416 -.--% Keybank National Association 5,245,388 2.06% $131,554,331 -.--% Putnam Investment Management, LLC 4,510,080 1.78% $113,112,806 -.--% Janus Capital Management, LLC 4,124,645 1.62% $103,446,096 -.--% Mazama Capital Management, Inc 4,051,084 1.59% $101,601,186 -.--% FMR Corporation (Fidelity Management & Research Corp) 3,104,500 1.22% $77,860,860 -.--% Morgan Stanley 1,707,684 .67% $42,828,714 -.--% UBS Global Asset Management (Americas) Inc 1,678,398 .66% $42,094,221 -.--% Ohio-Public Employees Retirement System (PERS) 1,392,515 .55% $34,924,276 -.--% % of Shares Held by All Insider and 5% Owners: 12% -.--% Top 10 [7.5%] of 132 Institutional Holders Control 26.30% -.--% Percentage of Barclays and "Associates" Control 6.13% -.--%

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Symbol Name Of Corporation C Major Holders Citigroup Inc. (As of 30-Jun-2007) (As of 30-Jun-2006) Top 10 Institutional Holders Shares 2007 Value 2006 Capital Research And Management Company 230,517,177 4.63% $11,823,226,008 3.59% Barclays Global Investors UK Holdings Ltd 179,123,520 3.60% $9,187,245,340 4.70% State Street Corporation 150,346,292 3.02% $7,711,261,316 3.11% AXA (Paris, France) 144,848,238 2.91% $7,429,266,127 3.43% Vanguard Group, Inc. (The) 139,606,101 2.81% $7,160,396,920 2.55% Wellington Management Company, LLP 104,426,206 2.10% $5,356,020,105 2.39% FMR Corporation (Fidelity Management & Research Corp) 87,306,811 1.76% $4,477,966,336 1.42% Morgan Stanley 69,711,306 1.40% $3,575,492,884 1.28% UBS Global Asset Management (Americas) Inc 68,769,985 1.38% $3,527,212,530 1.28% Mellon Financial Corporation 57,947,534 1.16% $2,972,129,018 -.--% % of Shares Held by All Insider and 5% Owners: 1% 1% Top 10 [0.7%] of 1479 Institutional Holders Control 24.77% 25.01% Percentage of Barclays and "Associates" Control 9.18% 10.35%

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Symbol Name Of Corporation MER Major Holders Merrill Lynch & Co. Inc. (As of 30-Jun-2007) (As of 30-Jun-2006) Top 10 Institutional Holders Shares 2007 Value 2006 State Street Corporation 74,841,092 8.71% $6,255,218,469 8.76% AXA (Paris, France) 62,197,086 7.24% $5,198,432,447 4.89% Barclays Global Investors UK Holdings Ltd 39,597,018 4.61% $3,309,518,764 3.85% Legg Mason Inc. 27,611,481 3.21% $2,307,767,581 3.62% FMR Corporation (Fidelity Management & Research Corp) 25,786,836 3.00% $2,155,263,752 3.26% Vanguard Group, Inc. (The) 24,223,959 2.82% $2,024,638,493 2.51% Morgan Stanley 16,344,183 1.90% $1,366,046,815 2.17% Janus Capital Management, LLC 13,945,529 1.62% $1,165,567,313 -.--% Goldman Sachs Group Inc. 13,799,355 1.61% $1,153,350,090 1.15% Mellon Financial Corporation 13,128,917 1.53% $1,097,314,882 -.--% % of Shares Held by All Insider and 5% Owners: 0% 0% Top 10 [1.1%] of 875 Institutional Holders Control 36.25% 30.24% Percentage of Barclays and "Associates" Control 23.19% 20.86%

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© 2007 by Edward Ulysses Cate
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