24 Dec 2018
Goldman Sachs Group Inc Chief Executive David Solomon on Friday defended the bank against criticism of its compliance and oversight related to dealings with the sovereign wealth fund 1MDB, according to a message sent to employees obtained by Reuters.
“We believe our culture and our processes around our due diligence and compliance was strong at the time, and is even stronger today,” Solomon said in the video message, reported earlier Friday by Bloomberg.
“We will not allow the culture to be defined by those who break our rules and don’t uphold the values we hold dear.”
Solomon’s comments come after the Malaysian government filed criminal charges against Goldman on Monday, the first charges to be brought against the bank, which has consistently denied wrongdoing.
– By Elizabeth Dilts, Reuters, 21 December 2018
Link to Reuters.
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