Goldman Sachs’ Wall Street reputation has taken a beating in the wake of Greg Smith’s poison-pen resignation letter, according to a new survey. The gold-plated investment bank run by CEO Lloyd Blankfein is facing its lowest consumer-perception rating since 2010 when it was slapped with a $550 million fine by the Securities and Exchange Commission.
Goldman’s -36 rating is just 8 points higher than the all-time low score of -44 it achieved after the July 2010 SEC fine, according to research firm YouGov BrandIndex.
Ted Marzilli, managing director at YouGov’s brand unit, said that the Smith letter, which went viral March 14, is a serious matter for the once-celebrated 143-year franchise. Blankfein’s firm took the equivalent of a reputational body blow last week when Smith penned a caustic letter in a New York Times op-ed, accusing the firm of losing sight of its culture and putting profits ahead of clients (who he said were called “muppets”).
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Read more: http://www.nypost.com/p/news/business/the_muppets_aren_amused_sBETX4iFK84xOuQOevOuVN
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