Sections SEARCH Skip to content Skip to site index Subscribe Log In Log In Today’s Paper DealBook | Goldman Sachs Tells Its Bankers to Loosen Their Neckties Advertisement DealBook Supported by ByMichael J. de la Merced March 6, 2019 For decades, Goldman Sachs’s bankers have flown across the world pitching prospective clients and drawing up multibillion-dollar deals in expensive suits, ties and pantsuits. Those deal makers can now plan on dressing down — at least a little bit. Goldman Sachs told its employees on Tuesday that it planned to relax its dress code. In an internal memorandum, executives said that they were adopting a “flexible” dress code in keeping with the times. It’s the latest attempt by a Wall Street firm to cater to the younger workers that the industry eagerly tries to recruit. A top competitor, JPMorgan Chase, took the leap into business casual nearly … [Read more...] about Goldman Sachs Tells Its Bankers to Loosen Their Neckties
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Sections SEARCH Skip to content Skip to site index Business Subscribe Log In Log In Today’s Paper Business | Former Goldman Sachs Banker Charged in 1MDB Fraud Will Return to U.S. Supported by ByEmily Flitter and Matthew Goldstein Feb. 14, 2019 A former Goldman Sachs banker implicated in a multibillion-dollar fraud in Malaysia will return to the United States to face the criminal charges against him, his lawyer said in an email on Thursday. Roger Ng is accused of helping his boss at Goldman launder money and bribe officials from two countries as part of the bank’s work for a Malaysian state-owned development fund, 1Malaysia Development Berhad, or 1MDB. Mr. Ng planned to waive an extradition hearing on Friday and return to the United States, according to his lawyer, Marc Agnifilo. Mr. Agnifilo said his client intended to plead not guilty when he appears in federal court in Brooklyn. He added that Mr. Ng … [Read more...] about Former Goldman Sachs Banker Charged in 1MDB Fraud Will Return to U.S.
Sections SEARCH Skip to content Skip to site index Business Log In Subscribe Log In Today’s Paper Business | Goldman Sachs Suggests Current and Former Executives Could Lose Money Over 1MDB Supported by ByMatthew Goldstein Feb. 1, 2019 The fallout for Goldman Sachs from a foreign bribery scandal involving a looted Malaysian investment fund could mean reduced compensation for several senior executives at the Wall Street bank including the chief executive, David Solomon, and his predecessor, Lloyd Blankfein, according to a regulatory filing made Friday. The bank’s board, in approving year-end compensation for Mr. Solomon and Mr. Blankfein, adopted a provision giving it the ability to claw back or reduce some of that pay package depending on the outcome of a federal investigation into the taking of billions of dollars from the 1Malaysia Development Berhad fund, known as 1MDB. One former top Goldman banker … [Read more...] about Goldman Sachs Suggests Current and Former Executives Could Lose Money Over 1MDB
Sections SEARCH Skip to content Skip to site index Business Subscribe Log In Log In Today’s Paper Business | Goldman’s Tactic in Huge Malaysian Fraud Case: Smear an Ex-Partner Supported by ByMatthew Goldstein, Emily Flitter and Kate Kelly Jan. 16, 2019 They sound like the ingredients of a pulpy thriller: Bigamy. Secret religious conversions. A doctorate from a mail-order diploma mill. Affairs with powerful women. The sordid list — a mixture of facts, accusations and insinuations, packaged in a glossy slide show — represents the crux of a well-orchestrated campaign by Goldman Sachs to discredit one of its former partners and to minimize the Wall Street bank’s role in the looting of a big Malaysian investment fund. In recent presentations to American regulators and law-enforcement authorities, according to people familiar with their contents, Goldman executives and their lawyers have … [Read more...] about Goldman’s Tactic in Huge Malaysian Fraud Case: Smear an Ex-Partner
Sections SEARCH Skip to content Skip to site index Business Subscribe Log In Log In Today’s Paper Business | Malaysia Blames Goldman Sachs for Stolen Billions Supported by ByAlexandra Stevenson Jan. 14, 2019 Accused of helping to carry out an international multibillion-dollar fraud, Goldman Sachs has tried to pin the blame on a few rogue bankers. It is an argument that the government of Malaysia, where the fraud was carried out, is not buying. “We have suffered extremely large losses and you were the financial adviser,” said Lim Guan Eng, the finance minister of Malaysia, referring to Goldman Sachs. “Now how do you account for that? And don’t tell me you don’t know where the money went,” Mr. Lim said in an interview in Hong Kong on Monday. “Goldman Sachs needs to come to terms with the facts.” Malaysia is gearing up for a fight with an institution that was once … [Read more...] about Malaysia Blames Goldman Sachs for Stolen Billions