Goldman Sachs rebuilds its reputation
Investment bank puts executives through reform school
Goldman Sachs (GS) is attempting to redeem its reputation as a leading investment bank. The Economist says top executives at the bank are creating programs to ensure employees and the firm are moving in the right direction.
These reforms may not be enough, however, without deeper structural changes aimed at reducing the number of conflicts, real or perceived, with which it constantly has to grapple. Steven Mandis, a Goldman veteran turned academic, argues in a remarkable new book, “What Happened to Goldman Sachs?”, that the firm’s culture has been drifting for years.