Goldman Sachs has hired a Texas public relations firm to undo the damage done to the firm’s image by the financial crisis and its aftermath, The New York Post is reporting.
Public Strategies, headed by Dan Bartlett, a confidant of George W. Bush and Karl Rove, is already on the case. Earlier this month, Goldman clients and Wall Street analysts starting filling out an exhaustive, online questionnaire seeking to pinpoint exactly what people thought of Blankfein’s firm.
One question wanted survey participants to compare Goldman to other Wall Street banks — and names rivals JPMorgan Chase, UBS, Bank of America, Citigroup and Barclays. Respondents were asked to fill in blanks from least favourable to most favourable.
“For the first 139 years it wasn’t that relevant to us to explain ourselves,” Blankfein told Fortune recently. “And now it became very relevant and the press did an important thing for us, they pointed out to us that that was a deficiency in our strategy, not to reveal ourselves . . . I’m just trying to take pains, which we should have done all along, to make sure that people understand what we do in the world.”