Goldman fires junior banker for crossing the line

Goldman Sachs said it fired a junior banker who brought confidential information from the Federal Reserve Bank of New York into the firm.

Bloomberg News reports that the banker, who had joined the company in July from the New York Fed, was dismissed a week after the discovery in late September along with another employee who failed to escalate the issue, according to an internal memo obtained by Bloomberg News that didn’t identify the pair.

Jake Siewert, a bank spokesman, confirmed the contents of the memo, which was prompted by a report in the New York Times earlier this week.

'We have zero tolerance for improper handling of confidential information', Goldman Sachs said in the memo. 'We are reviewing our policies regarding any hiring from governmental institutions to ensure that they are appropriately effective and robust'.

To access the complete Bloomberg News article hit the link below:

Goldman Says It Fired Banker Who Obtained N.Y. Fed Information

RBS Fined $88 Million by U.K. Regulators for IT Failures

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News