Friday, May 24, 2013

Bonus Watch ’13: Goldman Links Bonuses To Protecting Firm Reputation

Goldman Sachs has linked bonuses and promotions to employees’ success in protecting the firm’s reputation and put new restrictions on some client transactions to avoid a repeat of the damage to its standing in the wake of the financial crisis.

Bloomberg reports that a 'new-activity committee' will evaluate and approve suitability when clients undertake transactions that carry new risks, New York-based Goldman Sachs said Thursday in a report.

When setting year-end pay, the firm is reviewing employees’ efforts to protect its reputation and win clients’ trust, according to the report….

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