How many times has it been suggested Goldman Sachs is the best investment bank in the business? No other operates a money machine that runs as smoothly, and a few months ago it was voted the Bank of the Decade by readers of Financial News by a proverbial country mile.

JP Morgan Chase may have the world's largest derivatives book and Citigroup's investment bankers, left over from the rump of Salomon Smith Barney, can say their parent has the largest balance sheet, but it is Goldman that is the first choice of most discerning and demanding customers. Why do they admire Goldman so much? Because the bank is usually so innovative, it pre-empts many of its clients' ideas. How does Goldman manage to remain at the top when it creates wealth at such speed for its employees that many could retire, if they wished, in their early 30s? The bank loves to shroud itself in mystery but there is little doubt Goldman inspires a fierce loyalty. It is also careful to hire only the best, or those the recruiters believe will turn into truly original thinkers. If you have just a good "vanilla" intellect, try a European bank. Goldman used to be managed by investment bankers – think of the late John Weinberg, Paulson, John Thain and John Thornton. However, that has changed. Today, traders rule the roost and occupy almost all the senior positions. Henry Paulson, former partner and chief executive, has gone to Washington to become secretary of the US Treasury. He was succeeded by Lloyd Blankfein, reputed to be one of the best traders on Wall Street, who started as a salesman in Goldman's J Aron gold trading business. Blankfein is the driving force and it is difficult to see, from the present division of revenues, that the traders could be threatened. Not only are they pouring money into Goldman's bottom line but the dividing line between the traders and investment bankers has been narrowing for some time. More of Goldman's most ambitious deals, often for its account, have been driven by the trading desks. Are some of the best traders also quasi-investment bankers? Yes, in the case of, say, Michael Sherwood, one of the co-heads of Goldman's international business. Can Blankfein keep his traders in check in this highly competitive working environment, where they may be the new prima donnas rather than the investment bankers? Blankfein keeps moving his staff around and, perhaps surprisingly, has retained Goldman's preference for co-heads of many big management positions. But is there a story behind Blankfein's latest management reshuffle, which transfers Tom Montag from Asia to New York? Montag, a bank veteran, was based in Japan for years and the firm's success in the country has become part of Asian folklore. But why should he be brought back to New York to take on the role of one of Goldman's brightest stars, Gary Cohn, in fixed income, currencies and commodities? Cohn is one of the three New York-based triumvirate of top managers whose signature appears with Blankfein's and Jon Winkelreid. Is there a wobble at the top of Goldman? Of course not. No doubt Cohn remains in charge of global fixed income and equities. However, the press release about the move is opaque even by Goldman's misty standards. With 24,000 employees, isn't there one English teacher in the house?