Goldman aims to preserve pre-IPO culture, even as partnership dwindles


WASHINGTON (Reuters) – Goldman Sachs Group Inc (GS.N) has launched a global training initiative to safeguard the tight-knit culture it developed as a private partnership, even as the bank marks its 19th year as a publicly traded company.

FILE PHOTO: Lloyd Blankfein, CEO of Goldman Sachs, speaks at the Boston College Chief Executives Club luncheon in Boston, MA, U.S., March 22, 2018. REUTERS/Brian Snyder/File Photo

Bank leaders, including Chief Executive Officer Lloyd Blankfein and his deputy, Chief Operating Officer David Solomon, have been anchoring 2-1/2-hour sessions with managers across the globe since September, focused on improving culture and employee conduct, executives involved with the effort told Thomson Reuters Regulatory Intelligence.

Since the 2007-2009 financial crisis, regulators have put a strong emphasis on improving corporate culture and employee behavior in a bid to reduce risk across the system.

Some 2,500 employees are expected to…

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