• AutoTL;DR@lemmings.worldB
    link
    fedilink
    English
    arrow-up
    31
    ·
    1 year ago

    This is the best summary I could come up with:


    A group of seniors preparing to graduate from his alma mater, upstate New York’s Hamilton College, wrote a letter accusing the Goldman Sachs chairman and chief executive officer of “blatant ignorance and disrespect” as they spoke with him about the school’s investments in fossil fuels at a trustee networking event.

    The letter, jointly written by three members of the class of 2023 and published on the school newspaper’s website in May, was reported Friday by New York Magazine as part of a story on unrest within Goldman Sachs over Solomon’s management style.

    They said Solomon indicated fossil-fuel divestment was a stupid movement and that if the students traveled to countries like China, India and Cambodia they could see how the world “really worked” before deciding if they wanted to live like that.

    But he’s faced elements of revolt from the firm’s powerful cadre of partners over issues tied to the business, such as the costly consumer-banking flop, and some specific to Solomon himself — complaining about his brusque management style and his use of the corporate jet for leisure.

    A growing list of senior departures has also drawn attention, with some executives departing soon after taking new posts, and some top women exiting amid criticism about the firm’s culture.

    Tom Montag, who spent more than two decades at Goldman and helped run the trading business when Solomon ran investment banking, was named to the board of directors last month.


    I’m a bot and I’m open source!