Goldman Sachs Group Inc has been quietly moving thousands of jobs from pricey places like New York and London to cheaper cities like Salt Lake City in recent years, and executives said on Thursday those efforts are finally starting to show up in the bank’s results…More than 30 people with global responsibilities are now based in the state capital of Utah, including a compliance team headed by Matthew Moore, a managing director who oversees regulatory audits and inquiries. A credit research team of more than 60 people who perform reviews of Goldman’s counterparties is also based in Utah…One former Salt Lake City employee recalled visits from senior executives touring the office that were filled with awkward banter about skiing or the Mormon religion, and an emphasis on how important the office was because of how cheap it is. [Reuters via Lauren LaCapra]

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Comments (14)

  1. Posted by Guest | January 17, 2014 at 2:43 PM

    I thought that's what Jersey City was for.

  2. Posted by Guest | January 17, 2014 at 2:47 PM

    Clearly they are running with Amy Chua's, "Triple Package." Her most desirables:
    ◾Jewish (Rubenfeld’s background)
    ◾Chinese (Chua’s background)
    ◾Cuban exiles

    Connect the dots here…

  3. Posted by Brigham | January 17, 2014 at 3:02 PM

    Can I interest you in some literature?

  4. Posted by Guest | January 17, 2014 at 3:04 PM

    Did they try bringing up "Sister Wives?" That seems like engaging water cooler talk…. oh wait, even they moved the hell away from Utah…

  5. Posted by quant me maybe... | January 17, 2014 at 3:05 PM

    Nothing motivates me more than being told I'm cheap.

  6. Posted by pazzo83 | January 17, 2014 at 3:20 PM

    "One former Salt Lake City employee recalled visits…"

    Yeah, see what happens when you speak up?

    – G Smith

  7. Posted by Guest | January 17, 2014 at 5:20 PM

    I have a dead wife who before she died, secretly deposited $1 million dollars into a bank account with USB name on it.

    As it was her wish that you have this money, I must request that you send me all of your bank details, pin numbers and any identification numbers that you have.

    This is so that I can send on the monies to you!

    If you can include either a British or an American passport with your mail this would be very helpful. This would aid me with my transactions!

  8. Posted by EQ in Dallas | January 17, 2014 at 5:25 PM

    Compliance in Utah huh?

    I thought they were lying when they said it could have been worse for me!

  9. Posted by Guest | January 17, 2014 at 5:37 PM

    I heard the traffic there was a big minus.

  10. Posted by Brady | January 17, 2014 at 9:00 PM

    So GS has compliance in Utah???? Get ready Bismarck, ND..Here…we..come!!!

    – Every other "Bulge Bracket's" back office

  11. Posted by guestyo | January 18, 2014 at 3:06 AM

    God's work… in Utah.

  12. Posted by dutch banker | January 19, 2014 at 2:10 AM

    Goldman has compliance?

  13. Posted by Guest | January 21, 2014 at 9:13 AM

    *Joseph Smith

    -UBS Religion Quant

  14. Posted by Romuald Fons | January 30, 2014 at 7:50 AM

    K'mon that can be true…