A Top Goldman Banker Raised Ethics Concerns. Then He Was Gone. – The New York Times

By the tight-lipped standards of Goldman Sachs, the phone call from one of the firm’s most senior investment bankers was explosive.James C. Katzman, a Goldman partner and the leader of its West Coast mergers-and-acquisitions practice, dialed the bank’s whistle-blower hotline in 2014 to complain about what he regarded as a range of unethical practices, according to accounts by people close to Mr. Katzman, which a Goldman spokesman confirmed. His grievances included an effort by Goldman to hire a customer’s child and colleagues’ repeated attempts to obtain and then share confidential client information.Mr. Katzman expected lawyers at the firm Fried, Frank, Harris, Shriver & Jacobson, which monitored the hotline, to investigate his allegations and share them with independent members of Goldman’s board of directors, the people close to Mr. Katzman said.The complaints were an extraordinary example of a senior employee’s taking on what he perceived to be corporate wrongdoing at an elite Wall Street bank. But they were never independently investigated or fully relayed to the Goldman board.

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