Goldman Sachs has so many fingers in so many pies that it is used to dealing with conflicts of interest and public spats. But last week the US bank avoided a potentially embarrassing and highly public rift between two of its directors after they kissed and made up almost as soon as the potential controversy emerged.

When Lord Browne of Madingley, below, right, chief executive of oil group BP, squared up to his chairman Peter Sutherland over whether he should be forced to stand down in two years at the company's compulsory retirement age of 60, few spotted that Goldman Sachs was lurking in the background.