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 Goldman Sachs boss defends firm's ethics after attack

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RR Phantom

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Goldman Sachs boss defends firm's ethics after attack Vide
PostSubject: Goldman Sachs boss defends firm's ethics after attack   Goldman Sachs boss defends firm's ethics after attack Icon_minitimeWed Mar 14, 2012 7:09 pm
Goldman Sachs' boss has rejected claims by a former employee that its environment is "toxic and destructive".

Goldman Sachs boss defends firm's ethics after attack _56126500_goldman_getty

Lloyd Blankfein said his views did not reflect the banking giant's values.

Greg Smith, who headed Goldman's equity derivatives business in Europe, wrote to the New York Times saying it was common to hear talk of ripping off their "muppet" clients.

London-based Mr Smith said: "The environment now is as toxic and destructive as I have ever seen it."

Mr Smith quit, saying he could no longer work there "in good conscience".

Mr Blankfein said in the email that it was not shocking that some people could feel disgruntled within a firm employing 30,000 people but it was unfortunate he expressed his views through a newspaper.

http://www.bbc.co.uk/news/business-17373736
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