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Perhaps some of you remember Jon Winkelried? The former Goldman Sachs co-president is persona non grata at the firm but for the purposes of context, a quick refresh: Winkelried was the good for nothing prick who abandoned Lloyd Blankfein when the CEO needed him most, and when it would look most bad for the company to have a high level departure (circa the shit hitting the fan era). A traitorous shrew, really, who let deaf ears fall on Blankfein’s pleas to stay, and who traded it all in for a bunch of barnyard animals.
Anywho, Goldman ended up getting on just fine with out he whose name shall not be mentioned, got on great in fact, but his actions did leave a lasting mark on Blankfein, namely that he lost the ability to open up and trust high level execs and that his previously dormant abandonment issues flared up like nobody’s business. So when there was talk of Goldman CFO David “Bones” Viniar retiring, Lloyd naturally panicked. But apparently it was for naught. Bones would never do that to his li’l fella.
Viniar, a three-decade Goldman veteran, dubbed “Bones” while on the Union College basketball team, considered one of the brightest financial minds on Wall Street, told a handful of close associates as recently as last year about his desire to retire — but then quickly put those plans on the back burner when Wall Street’s most profitable firm ran into turbulence…Sources familiar with the matter say Viniar’s earlier plan would have had him stepping down to pursue other interests as early as this year. But those plans changed as it could be seen by the outside world that one of the firm’s top officers was abandoning ship. “David is very much a team player and he’ll do whatever the firm asks of him,” said one source. Added a second source: “He’s so loyal he’s only going to do anything when the timing is appropriate.”
That, and after the Winkelried incident, Lloyd had every employee’s gold-plated pair equipped ankle monitoring bracelet style. But the loyalty, that helped too.
Viniar Stays Put [NYP]