Greg Smith, who heads Goldman's U.S. equity derivatives business in Europe, Africa and the Middle East, is resigning today after almost 12 years with the Wall Street Journal. He started as a summer intern, he says, and worked his way up to the position of executive director in London."I can honestly say that the environment now is as toxic and destructive as I have ever seen it," Mr. Smith writes.
"To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for."
For more: Executive slams Goldman Sachs as he quits: Environment ‘toxic’ - The Globe and Mail
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