Saturday, October 20, 2012

Goldman Sachs versus Greg Smith: It's On!

GS has sent out a two-page "Briefing Toolkit" memo full of talking points to all of its employees, and many of its former employees via an alumni mailing list, with regard to the new attack book by former GS vp Greg Smith. New York Magazine has obtained a copy and summarizes the memo:
Goldman's plans for dealing with the fallout from Smith's book include: 
Implying that Smith was too low on the totem pole to know anything about anything (his "perspective was limited because he had no direct client coverage responsibilities and was not responsible for any business or desk, nor did he have access to the risk positioning of the firm"). 
Strongly suggesting that Smith is an opportunistic shapeshifter ("Greg did not provide any negative feedback on any of his reviewees in any of those years. In fact, he scored all of his colleagues’ performance at the top of the range, including in the areas of Culture and Values, Leadership and People Management, Client Focus and Reputational Excellence"). 
And throwing in a page of generic facts about the financial health and client-centric culture of the firm.
Here's the entire memo:


  1. Btw it's probably worth noting to those seeking a job that this is a textbook example of how to be unemployable for the rest of your life.

  2. You can tell Greg Smith nailed these guys.