What’s bad for reputation might be good for business at Goldman Sachs
Wall Street conventional wisdom holds that a sterling reputation is crucial to winning business and keeping clients. Goldman Sachs Group Inc. may be the exception, according to a new Bloomberg survey. Fifty-four percent of respondents to the global poll of traders, investors and analysts conducted May 9-10 have an unfavorable opinion of the New York-based bank, more than double the negative rating for JPMorgan Chase & Co. One month after a U.S. Senate report said Goldman Sachs misled clients, 78 percent of those surveyed said the accusations will either have no effect on the firm or will harm its reputation without driving away customers.