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Looking To Land A Gig At Goldman Sachs? Pack Up Your Wives And Head West

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The bank's Salt Lake office is on a hiring spree.

Goldman Sachs now employs 1,300 people in Salt Lake City -- putting Utah's capital city on a path to become Goldman's fourth-largest global operation, behind only New York, New Jersey and London. At a time when the Wall Street firm has cut thousands of jobs elsewhere, Goldman plans to grow in Salt Lake City. Already, Salt Lake City accounts for just under 4 percent of the global investment bank's total headcount, double the staff it had in Salt Lake City only two years ago, and that figure continues to climb. During a Feb. 28 visit to Goldman's office on Main Street, just a few blocks from the headquarters of the Mormon Church, Chief Executive Lloyd Blankfein told employees of plans to hire an additional 300 workers by year's end.

Goldman's Promised Land [Reuters]


Goldman Sachs Can Fix This

A week ago today, a man named Greg Smith resigned from Goldman Sachs. As a sort of exit interview, Smith explained his reasons for departing the firm in a New York Times Op-Ed entitled "Why I Am Leaving Goldman Sachs." The equity derivatives VP wrote that Goldman had "veered so far from the place I joined right out of college that I can no longer in good conscience say I identify with what it stands for." Smith went on to note that whereas the Goldman of today is "just about making money," the Goldman he knew as a young pup "revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients." It was a culture that made him "love working for the firm" and its absence had stripped him of "pride and belief" he once held in the place. While claiming that Goldman Sachs has become virtually unrecognizable from the institution founded by Marcus (Goldman) and Samuel (Sachs), which put clients ahead of its own interests, is hardly a new argument, there was something about Smith's words that gave readers a moment's pause. He was so deeply distraught over the differences between the Goldman of 2012 and the Goldman of 2000 (when he was hired) that suggested...more. That he'd seen things. Things that had made an imprint on his soul. Things that he couldn't forget. Things that he held up in his heart for how Goldman should be and things that made it all the more difficult to ignore when it failed to live up to that ideal. Things like this: