Normally, banks enforce the agreements to the letter if highly prized executives defect to a rival company. Goldman is enforcing tougher noncompetitive clauses in exit agreements as it has watched high-profile executives leave for other jobs during the COVID-19 pandemic. Since the onset of the coronavirus pandemic, Goldman has seen an exodus of top-flight talent. Gregg Lemkau and Eric Lane, who headed divisions within Goldman before moving on to other companies, had unvested stock options worth millions taken away after their departures, according to the report. To add insult to injury, Ismail and Stark have been banned from all company-run alumni events. Ismail and the deputy, David Stark, were denied in their attempt to cash out stock bonuses that had vested and were subject to taxation dating back five years, according to the report. ![]() It is not something that is routinely done to executives who are headed out the door. Taking away vested stock is normally a last-resort action against someone who is accused of misconduct. When one of the company’s young stars, 42-year-old Omer Ismail, left with one of his deputies to run a Walmart-backed startup, Goldman CEO David Solomon was so angry that the bank considered confiscating the pair’s vested stock options, according to Bloomberg. Goldman Sachs wants to claw back bonuses from executives who leave the investment banking giant as it scrambles to stem a tide of high-profile departures, according to a new report. Wall Street payouts will be ‘most complicated since Great Recession’: surveyĪpple savings account offers 10 times more interest than US average - draws $1B in deposits in days Goldman Sachs to pay $215M in gender discrimination suit to avoid trial ![]() Goldman hosts ‘culture fair’ days before $215 million gender-bias settlement
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