Goldman Said To Have Taken A Hard Line Over Japan Departures

CNBC reports that Goldman Sachs appears to be taking a hard line over staff who may wish to leave Japan following the earthquake, tsunami and nuclear alert there these last 2 weeks.

The news channel quotes on unnamed professional who said that several senior Goldman execs had been visiting Tokyo in recent days, and that: 'The message was clear: no one is to leave. If you do leave, you can't come back and expect to still work for Goldman'.

One banker told Here Is The City, however: 'This is probably just another 'pop at Goldman' story. The truth is more likely to be that the firm, like most others, will be keen to be seen supporting Japan at this difficult time, serving clients and showing leadership. But clearly there are other factors in play here, and some staff will feel the need to return home to be with their families, while others may have families with them who need to be taken back. It's a difficult call, but it looks like most firms, including Goldman, are getting the balance right. Now is not the time for three-line whips'.

Finally, The New York Times reports that Goldman partners have sold around $108m in shares in the firm in recent months, taking their collective ownership in the company down from 11.2% to 10%.

Image: © Official U.S. Navy Imagery

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