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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Goldman Alumni in Washington May Shun Firm – David Solomon
Goldman Sachs 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 Solomon said.
“It’s almost the opposite. 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.” - - Solomon, in a Bloomberg Television interview..
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.
Democratic Senators Elizabeth Warren and Tammy Baldwin called on Cohn this month to withdraw from matters that may have “a significant indirect impact on Goldman” for as long as he serves in the administration. Trump signed an executive order on Jan. 28 requiring appointees such as Cohn to recuse themselves from decisions “directly and substantially related” to their former employers for 2 years.
Solomon was named co-president with Harvey Schwartz to replace Cohn in December. Prior to his current role, Solomon helped run Goldman Sachs’s investment-banking division. He joined the firm from Bear Stearns in 1999 to build up the leveraged-finance business.