Economics
Alibaba IPO Grew Out of ’80s Chaos and Guy From Goldman
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In 1984, Eric Dobkin was working for Goldman Sachs Group Inc., selling large blocks of stocks to fund managers, when he was handed an assignment: The bank ranked ninth in equity underwriting. Fix it.
Dobkin, then 41, spent a few sleepless nights mulling the problem. At the time, initial public offerings were a scattered affair, as thousands of regional brokers hawked the paper to retail investors.