Goldman Executives Quietly Revolt Against Holiday Party Ban

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Executives at Goldman Sachs have been quietly finding ways around the firmwide holiday party ban, people familiar with the matter say.

Several executives who lead business groups inside of Goldman have been organising holiday dinners for employees, as a way of compensating employees for the loss of holiday parties. The dinners are typically paid for by the executives themselves rather than out of the firm’s budget.

“It’s an important morale booster at a time when lots of Goldman people feel they are constantly under attack,” an employee who was invited to one of the dinners told us.

It’s not clear how widespread this is, although our investigation was able to uncover at least six dinners. They seem to be designed to get around the ban by being organised as dinners rather than parties. Another move is for a group to cooperate with a law firm and get the law firm to sponor the dinner. In this way, it is Goldman being taken out as a client rather than a Goldman sponsored dinner.

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