Goldman Sachs, the private US investment bank, is expected to decide to postpone its planned flotation because of turmoil in world financial markets at a meeting of the firm's partners this evening. The 190 partners will hold their monthly meeting by means of a worldwide video conference and whether or not to delay the flotation is top of the agenda.

Company insiders said last week they were sure the flotation would be put off, pointing out that banking shares had fallen by as much 50 per cent in recent weeks. Goldman's partners voted last June to float 10 per cent of the shares in the 129-year old firm, one of the last Wall Street giants to take the stock market route. Among those who stood to benefit from the flotation was Mr Peter Sutherland, who is a senior partner in the firm and managing director of Goldman Sachs International.

At the time, partners' stakes were estimated to be worth $100 million or around £70 million on average.

But in the months since June, stock markets worldwide have crashed and the share prices of Goldman's rivals have slumped, dragging the value of the US firm downward. If Goldman was to float now, it would be valued at a little over half the $30 billion estimate put on the firm in June.