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Goldman Sachs Links Bonuses to Protecting Firm Reputation

Goldman Sachs Group Inc. linked bonuses and promotions to employees’ success in protecting the firm’s reputation and put new restrictions on some client transactions to avoid a repeat of the damage to its standing in the wake of the financial crisis.

A “new-activity committee” will evaluate and approve suitability when clients undertake transactions that carry new risks, New York-based Goldman Sachs said today in a report. When setting year-end pay, the firm is reviewing employees’ efforts to protect its reputation and win clients’ trust, according to the report.