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.
