Goldman Sachs Boss Lloyd Blankfein Says He Probably Wouldn't Call Investment Banking God's Work Again

Photo: Getty/Alex Wong

In 2009 Goldman Sachs boss Lloyd Blankfein said by providing funding for companies who in turn hire more people, he was doing “God’s work.”

In a interview with The Times, he was quoted as saying: “We help companies to grow by helping them to raise capital. Companies that grow create wealth.

“This, in turn, allows people to have jobs that create more growth and more wealth. It’s a virtuous cycle.”

But, in an interview with The Australian Financial Review, Blankfein — the chairman and CEO of Goldman — has admitted he would not use the analogy again. The newspaper asked him if he would tell a young banker they were doing “God’s work.”

“If that annoyed people, no, I wouldn’t say that again.

“So maybe it’s not God’s work per se because who knows what that is really but I will say that I think in our industry, like any other, people have to feel very good about what they are doing; it’s not just a matter of making a living, it’s a matter of feeling pride in what you do and knowing that it’s important.”

Read more here.

Now read: ‘My Heart Goes Out To You’: Goldman Boss On Australia’s Growing Economy

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