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Goldman CEO Vows to Better Protect Junior Bankers’ Saturdays Off

  • Solomon says he’ll hire more, beef up staffing where needed
  • He praises analysts who alerted managers to hundred-hour weeks

Goldman Sachs Group Inc.’s David Solomon vowed his firm would try harder to ensure junior bankers get at least one day off a week after a group of analysts raised an alarm about increasing burnout among the group.

In a voice memo sent to workers on Sunday, the chief executive officer said the firm would strengthen enforcement of its so-called Saturday rule, which states junior bankers should not be expected to be in the office from 9 p.m. Friday to 9 a.m. Sunday. He also vowed to accelerate hiring of new junior bankers and transfer more employees to business lines where activity levels are highest.