129764880419062500_3Goldman Sachs day evaporation in the market value of more than $ 2 billion
Geleige・shimisi, Executive Director of Goldman Sachs in London (Greg Smith), 14th in the New York Times published the resignation letter, and strongly criticized Goldman's "toxic and destructive" culture, criticizing the company interests of customers in the background. Under the influence of this
swtor credits, Goldman Sachs shares fell by 3.4% 14th
swtor credits, is a day in the standard and poor's 500-stock index declineSix stocks, market value fell $ 2.15 billion a day. The letters on Wall Street triggered a broad discussion, United Kingdom says the financial times
diablo 3 power leveling, some close relationship with Goldman Sachs who have expressed concerns about this article.
Smith was not the first criticism at Goldman Sachs for their own interests at the expense of the interests of customers who, but he was the first from within the Goldman Sachs took the critics. Former ExecutiveAttack on the Goldman Sachs culture "toxic" at Stanford University, geleige・shimisi, joining Goldman Sachs 12 years ago when, before the resignation as Executive Director of Goldman Sachs, as well as Europe, the Middle East and Africa United States head of equity derivatives. In his resignation letter he said: "I think I have worked here long enough to understand their cultural development, understanding of its employees and identity。 To tell you the truth, now the most toxic environment that I have ever seen and the most destructive. "Geleige・shimisi's work was mainly responsible for the European hedge funds, asset management companies and other customers to sell securities and derivatives. He said, "I had two of the biggest hedge fund, United States five asset managers as well as the Middle East and Asia's three most influential sovereignWealth funds served as consultant. My customer has total assets of more than $ 1 trillion.
"Wall Street analysts say, Greg is in manufacturing jobs, Executive General of the holder of this Office was promoted to Managing Director, or move on to other salaries higher positions in the company. Smith complained in the letter: "I attended derivatives sales meetings, at which itNot spend even one minute to discuss how to help the customer, and just talk about how we can make maximum profits out of customers. "He claimed that:" in the past 12 months, I saw 5, Managing Director of their clients called the fool. "Finally, in his letter, he said:" I hope to wake up now Goldman's senior. Back in your customersOn the focus of the business. If you do not have customers, you also earn a penny less. "Goldman Sachs CEO issued a rebuttal should Goldman Sachs released 14th article said in a statement:" we do not agree with the views expressed in the article, we do not think that the views reflected in the company's management of business. We believe that the standard of the customer's success is the measure of our success. This principle isOur business is all about. "Mr Blankfein, Goldman Sachs Chairman and Chief Executive, Chief Operating Officer gairui・keen 14th, also sent a letter to employees.
Said in the letter, to geleige・shimisi's comments are disappointing, that it does not reflect the values and culture of Goldman Sachs, also does not reflect the majority of company, and Goldman Sachs Goldman Sachs people had in mind for the work done by the customer. Goldman employeesInteraction with customers, says in the letter: "throughout the company at all levels of staff, 89% said the company has provided excellent service to customers. The New York Times review of the article's author is a former Goldman Sachs Executive Director, and in our nearly 12,000 names Executive Director, believes the company offers excellent service to the customer with the company's overall proportion of people of a similar proportion. "CityEvaporation of 2.1 billion dollars as the market worried about the events on Goldman's business will be adversely affected, company's stock fell by 3.4% 14th, market value fell $ 2.15 billion a day. Goldman Sachs staff open letter of resignation after a storm, Jamie Dimon, in an internal memo, ask employees "not to take advantage of competitors", should focus on strengtheningJPMorgan Chase's own criteria.
Market sources said, while Dimon did not refer to Goldman Sachs, but apparently was the resignation letter of a storm. United States of major investment banks, due to the debt crisis in Europe, market activity in the second half slump last year, experience of investment banking revenues and profit for many Wall Street firms "hemorrhagic" days were difficult. Goldman Sachs recently announcedQuarter time announced that, due to poor market conditions and customer, Goldman Sachs in the 2011 cut operating expenses $ 14% per cent.
Support in the form of reduction, sharply cut 2,400 jobs, pay cuts the total 21% employees. United Kingdom Leah Purcell, founder of yuehan・pusaier, a research company said: "this letter must be on Goldman Sachs hurts, it is clear that heSaid was sincere in his letter. Maybe he had enough money in this life, not continue to work in the financial services sector, he also does not matter.
"Former Federal Reserve Chairman Paul Volcker, pointed out at the 14th participated in a meeting, Goldman Sachs, transformed into a public company, needed a lot of transactions to support, which will focus on customer needs before changing its culture. Goldman Sachs in recent years has been blamedIn January 2008, the Goldman Sachs Group financial officer Sala・shimisi at October 30, 2007 to the United States Securities and Exchange Commission (SEC) made public a letter. Disclosed in the letter, the Group predicted in advance of the 2007 subprime mortgage market bear market and a large number of short. Due to the suspected intention to conceal key information to investors, United States New York State Prosecutor's Office, Connecticut public prosecutor's Office said it would on Goldman Sachs and other Wall Street institutions "are deliberately hiding key information on high risk bonds to investors" for joint investigation. In March 2010, the Greece debt crisis first emerged early. According to media, Goldman Sachs in Greece help cover debts when the Government's financial adviser, and Greece the Government recommended "thirst" financing, You can make huge returns.
In addition, Goldman Sachs Group to allow Greece more area government debt crisis, charged in Greece while huge government bond underwriting income, through derivatives trading from Greece Government struggling to profit. In April 2010, the United States SEC (SEC) filed civil action against Goldman Sachs Group, accusing it of selling in 2007 year financial derivativeWhen, arrested for false report there are significant information and omissions and misleading statements, especially to conceal the famous hedge fund portfolio investors have a direct conflict of interest about facts, leads to not knowingly purchase being the hedge fund short selling of products, caused losses of up to more than $ 1 billion to investors. In January 2011, the United States regulatory DepartmentDoor institution with its proprietary trading investigations on Wall Street. Some economists believe that Wall Street institutions are keen to proprietary trading is one of the main causes of the financial crisis. Under pressure from regulators, Goldman Sachs was forced to announce companies publish financial reports and the reform way of communicating with investors, released on January 19, 2010 fourth quarterIn earnings, Goldman was first announced by the company on its 142-year history of proprietary trading for more details. News Review: Goldman Sachs managing director resignation letter said the company released moral fiber reduced pain in response to the resignation of executives at Goldman Sachs event not reactions of company values
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