44
+12%
8,536 $m
Financial Services
Goldman Sachs continues to rise to the top of league tables in a variety of areas and to show Year Over Year (YOY) growth in revenue and stock price. While Goldman Sachs remains highly relevant in the financial community, trust remains an issue in the post-crisis world. Continuing to wrestle with negative public sentiment, the brand has been criticized for leveraging tax policy loopholes in The Volker Rule, which was designed to prevent proprietary trading at large federally insured banks, and has come under fire with some financial law experts for relying too much on banks’ own self-reporting and self-regulation. In 2011, the brand became synonymous with Occupy Wall Street and is still a specific target for public frustration. While Goldman Sachs’ business appears strong, the brand continues on its downward trend with a decrease in brand strength with some analysts contending the brand has made business decisions in conflict with its brand values of integrity, fair dealing, transparency, professional excellence, confidentiality, clarity, and respect. The brand will need to manage its reputation carefully to avoid further damage. Public perception poses a particular risk as policy makers become more in tune with constituents’ perceptions. Poor public perception has also impacted the once golden image the Goldman Sachs brand carries as an employer, potentially creating problems in recruiting future top talent, particularly Millennials, something the brand currently uses as a differentiating point.