Why I am Leaving Goldman Sachs / Greg Smith

image

The author of this Op-Ed resigned as a Goldman Sachs executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa.  In this Op-Ed in the New York Times he explains his decision: the company no longer cares about clients and only cares about money.  He asks in the article,

How did we get here? The firm changed the way it thought about leadership. Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence.

See the full Article here:

http://www.nytimes.com/2012/03/14/opinion/why-i-am-leaving-goldman-sachs.html?_r=1

Also see article from Bloomberg Businessweek on the fall out from the above Op-Ed, including limited response from Goldman Sachs:

http://www.businessweek.com/news/2012-03-14/goldman-stunned-by-op-ed-loses-2-dot-2-billion-for-shareholders#p1

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: