Hedge fund Citadel’s Ken Griffin is sticking by Goldman.
One of the biggest concerns following the SEC’s fraud charges against Goldman is that the firm will lose clients and suffer reputational damage. Ken Griffin’s statements yesterday offer a nod to the contrary.
“I think that the disclosure around one transaction being the justification to vilify Goldman Sachs or to pass regulatory reform is just incredible,” Griffin told Reuters. “I don’t want to use the word childish … but it’s childish.”
“We should be beyond using one transaction gone awry to justify how we regulate companies that employ collectively 600,000-700,000 people.”
Griffin said Citadel would “absolutely” remain a client of Goldman Sachs, a “top notch organisation,” according to the hedge fund manager.
If all of Goldman’s clients, like Griffin, stick with the firm, will the people whining about Goldman’s suffering a reputational risk be quiet?
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