Goldman Launches Initiative to Address Gaps Following Fed Oversight

Posted on August 24th, 2023 at 11:27 AM
Goldman Launches Initiative to Address Gaps Following Fed Oversight

From the desk of Jim Eccleston at Eccleston Law

Goldman Sachs Group Inc. is experiencing a hiring spree due to a new wave of regulatory scrutiny in the US. The company's leaders are actively seeking to address the concerns raised by banking supervisors by expanding their workforce. Goldman's new hiring push is the first tangible fallout to emerge from regulators' heightened interest in the firm.

Goldman Sachs is actively recruiting hundreds of new employees to handle concerns from authorities, including the Federal Reserve. According to AdvisorHub, the firm is bolstering its back-office staff despite simultaneously reducing executives from revenue-generating positions due to a business slowdown.

It remains uncertain which specific deficiencies the firm aims to rectify, as it has mostly discontinued its consumer bank expansion, which prompted inquiries from the Fed the previous year.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

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