Former staff likely to shun Goldman

Gary Cohn Davos 2013 Interview Pic

Goldman Sachs Group Inc. executives who leave the firm to work in government are more likely to shun old colleagues for fear of damaging their reputations, rather than show favoritism in their policy decisions, co-President David M. Solomon said.

“It’s almost the opposite,” Solomon said Wednesday in a Bloomberg Television interview, responding to a question about possible undue influence. “These people have their own reputations and they want to, in any way they can, prove that they are doing the right thing for the country. They want to serve, and so to a degree they are almost more careful the other way.”

Bloomberg News reports that Solomon’s comments echo those of CEO Lloyd Blankfein and show one way the firm has sought to defend itself against accusations it wields too much power in the White House.

In December, Trump enlisted the firm’s then-president, Gary Cohn, to serve as his top economic adviser, and Dina Powell, who ran the firm’s philanthropic arm, was named an assistant to the president.

Hit the link below to access the complete Bloomberg News article:

Goldman Sachs Alumni in Washington May Shun Firm, Solomon Says

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