Who is CEO of Goldman Sachs?
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Since Sherwood's retirement in 2016, Gnodde has been the CEO of Goldman Sachs International as well as vice chairman of Goldman Sachs. According to the "Financial Times", he is "in sole charge of the Emea area." In March 2017, Gnodde said Goldman Sachs would move jobs to the continent because of Brexit.
Richard Gnodde
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During 2008 Goldman Sachs received criticism for an apparent revolving door relationship, in which its employees and consultants have moved in and out of high level U.S. Government positions, creating the potential for conflicts of interest. The large number of former Goldman Sachs employees in the US government has been jokingly referred to "Government Sachs". Former Treasury Secretary Paulson is a former CEO of Goldman Sachs. Additional controversy attended the selection of former Goldman Sachs lobbyist Mark A. Patterson as chief of staff to Treasury Secretary Timothy Geithner, despite President Barack Obama's campaign promise that he would limit the influence of lobbyists in his administration. In February 2011, the "Washington Examiner" reported that Goldman Sachs was "the company from which Obama raised the most money in 2008", and that its "CEO Lloyd Blankfein has visited the White House 10 times".
Goldman Sachs
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During 2008 Goldman Sachs received criticism for an apparent revolving door relationship, in which its employees and consultants have moved in and out of high level U.S. Government positions, creating the potential for conflicts of interest. The large number of former Goldman Sachs employees in the US government has been jokingly referred to "Government Sachs". Former Treasury Secretary Paulson is a former CEO of Goldman Sachs. Additional controversy attended the selection of former Goldman Sachs lobbyist Mark A. Patterson as chief of staff to Treasury Secretary Timothy Geithner, despite President Barack Obama's campaign promise that he would limit the influence of lobbyists in his administration. In February 2011, the "Washington Examiner" reported that Goldman Sachs was "the company from which Obama raised the most money in 2008" and that its "CEO Lloyd Blankfein has visited the White House 10 times."
Goldman Sachs controversies
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Thornton joined Goldman Sachs in 1980 and became a partner at age 34. In 1983, he founded and developed Goldman Sachs' European mergers and acquisitions business. He first began work in London in 1985, and served as co-CEO of Goldman Sachs International in London from 1995 to 1996. Thornton was Chairman of Goldman Sachs Asia from 1996 to 1998, where he expanded the firm's regional franchise during the Asian financial crisis. He announced his retirement from Goldman Sachs in 2003 to take up an academic position in China, although he would remain an adviser on issues related to China. According to the New York Times, Thornton's decision to retire "was prompted by a recognition that Mr. Paulson, who is 56, plans to remain Goldman's leader for at least three to five more years, delaying Mr. Thornton's expected promotion."
John L. Thornton
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Some have said, incorrectly according to others, that Goldman Sachs received preferential treatment from the government by being the only Wall Street firm to have participated in the crucial September meetings at the New York Fed, which decided AIG's fate. Much of this has stemmed from an inaccurate but often quoted "New York Times" article. The article was later corrected to state that Blankfein, CEO of Goldman Sachs, was ""one of" the Wall Street chief executives at the meeting" (emphasis added). Bloomberg has also reported that representatives from other firms were indeed present at the September AIG meetings. Furthermore, Goldman Sachs CFO David Viniar stated that CEO Blankfein had never "met" with his predecessor and then-US Treasury Secretary Henry Paulson to discuss AIG; However, there were frequent phone calls between the two of them. Paulson was not present at the September meetings at the New York Fed. Morgan Stanley was hired by the Federal Reserve to advise on the AIG bailout.
Goldman Sachs controversies
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Some have said, incorrectly according to others, that Goldman Sachs received preferential treatment from the government by being the only Wall Street firm to have participated in the crucial September meetings at the New York Fed, which decided AIG's fate. Much of this has stemmed from an inaccurate but often quoted "New York Times" article. The article was later corrected to state that Blankfein, CEO of Goldman Sachs, was ""one of" the Wall Street chief executives at the meeting" (emphasis added). Bloomberg has also reported that representatives from other firms were indeed present at the September AIG meetings. Furthermore, Goldman Sachs CFO David Viniar stated that CEO Blankfein had never "met" with his predecessor and then-US Treasury Secretary Henry Paulson to discuss AIG; However, there were frequent phone calls between the two of them. Paulson was not present at the September meetings at the New York Fed. Morgan Stanley was hired by the Federal Reserve to advise on the AIG bailout.
Goldman Sachs
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Jon Corzine, former CEO of Goldman Sachs, Governor of New Jersey, and United States Senator, began his tenure as CEO of MF Global in March 2010. Corzine spent nearly all of the 9 years prior to joining MF Holdings as either U.S. Senator or governor. From 1994-1999, Corzine held the role of chief executive officer for Goldman Sachs.
MF Global
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In November 2009, Goldman pledged $500 million to aid small businesses in its 10,000 Small Businesses initiative. The initiative aims to provide 10,000 small businesses with assistance - ranging from business and management education and mentoring to lending and philanthropic support. The networking is offered through partnerships with national and local business organizations, as well as employees of Goldman Sachs. In addition to Goldman CEO Lloyd Blankfein, Berkshire Hathaway's Warren Buffett and Harvard Business School professor Michael Porter chair the program's advisory council.
Goldman Sachs
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In March 2012, Greg Smith, then-head of Goldman Sachs US equity derivatives sales business in Europe, the Middle East and Africa (EMEA), resigned his position via a critical letter printed as an op-ed in "The New York Times". In the letter, he attacked Goldman Sachs CEO and Chairman Lloyd Blankfein for losing touch with the company's culture, which he described as "the secret sauce that made this place great and allowed us to earn our clients' trust for 143 years". Smith said that advising clients "to do what I believe is right for them" was becoming increasingly unpopular. Instead there was a "toxic and destructive" environment in which "the interests of the client continue to be sidelined", senior management described clients as "" and colleagues callously talked about "ripping their clients off". In reply, Goldman Sachs said that "we will only be successful if our clients are successful", claiming "this fundamental truth lies at the heart of how we conduct ourselves", and that "we don't think [Smith's comments] reflect the way we run our business". Later that year, Smith published a book titled "Why I left Goldman Sachs".
Goldman Sachs
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In March 2012, Greg Smith, then-head of Goldman Sachs US equity derivatives sales business in Europe, the Middle East and Africa (EMEA), resigned his position via a critical letter printed as an op-ed in "The New York Times". In the letter, he attacked Goldman Sachs CEO and Chairman Lloyd Blankfein for losing touch with the company's culture, which he described as "the secret sauce that made this place great and allowed us to earn our clients' trust for 143 years." Smith said that advising clients "to do what I believe is right for them" was becoming increasingly unpopular. Instead there was a "toxic and destructive" environment in which "the interests of the client continue to be sidelined", senior management described clients as "muppets" and colleagues callously talked about "ripping their clients off". In reply, Goldman Sachs said that "we will only be successful if our clients are successful", claiming "this fundamental truth lies at the heart of how we conduct ourselves" and that "we don't think [Smith's comments] reflect the way we run our business." Later that year, Smith published a book titled "Why I left Goldman Sachs".
Goldman Sachs controversies