Goldman banker had raised ethics concerns - NYT
(Adds Goldman's comment)
Sept 11 (Reuters) - A former Goldman Sachs Group Inc
partner had raised concerns about some unethical practices at
the bank before he left in 2015, the New York Times reported on
Tuesday, citing people close to the matter.
James Katzman, who led the bank's West Coast
mergers-and-acquisitions practice, had used the whistle-blower
hotline in 2014 to report on the investment bank trying to hire
a customer's child and colleagues' repeated attempts to obtain
and then share confidential client information, the paper
The investigation was taken up by the bank's general counsel
and Katzman was urged to move past his complaints by several
senior investment banking executives, the newspaper reported,
citing several people familiar with the interactions.
Katzman refused and left Goldman in 2015. He was required to
sign a confidentiality agreement that he believed prevented him
from sharing his concerns with board members or regulators,
people close to Katzman told the newspaper.
"A few years ago, Katzman raised several issues through an
appropriate outside channel. In accordance with our
whistle-blower policy, his concerns were thoroughly investigated
by our legal department and it was determined that no additional
action was warranted," Goldman spokesman Michael DuVally said in
"After that, Katzman chose to leave the firm at his own
initiative despite efforts to keep him."
In May, the bank enlisted https://reut.rs/2CJZJOo its top
management in a firm-wide initiative on conduct and culture
The program is a mandatory, global training program that
convenes the firm's partners and managing directors to reinforce
a responsibility – particularly among the firm's leaders – for
strengthening culture and reputation.
(Reporting by Diptendu Lahiri and Bharath Manjesh in Bengaluru;
Editing by Maju Samuel)
First Published: 2018-09-11 12:52:14
Updated 2018-09-11 15:30:12
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