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Lloyd Blankfein

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Goldman unveils checks on conflicts in bid to fix image

After dozens of meetings with executives and regulators, 100,000 hours of employee training and an immeasurable amount of public grief, Goldman Sachs Group Inc's Lloyd Blankfein claimed success in putting the bank and his legacy as CEO back on track.At Goldman's annual meeting on Thursday, Blankfein unveiled details of a three-year review and overhaul of the bank's practices in dealing with clients, following high-profile missteps that tarnished its reputation in the aftermath of the financial crisis. The overhaul imposes checks, including through elaborate computerized systems, to ensure that the bank is fair to clients and avoids conflicts, such as being on different sides of the same trade.Goldman's changes do not appear to go beyond the kind of committee reviews that other Wall Street firms now do, executives at two rival banks said. But they added the use of computerized analyses to detect unfair deals could make the system more effective than rivals' at catching potential pitfall...

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  10. Goldman Profit Up 7.2% on Higher Investment-Banking Revenue

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  11. Goldman Sails Past Forecasts on Investment Banking Growth

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  12. Goldman Sachs Q1 Earnings Beat Estimates

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  1. Goldman Sachs Re-elects Board, Releases Report

    Goldman Sachs Group Inc. shareholders re-elected all twelve directors at the annual meeting in Salt Lake City, Utah on Thursday. Shareholders also approved the firm'...

  2. Goldman Adopts Business Practice Initiatives

    Goldman Sachs Group Inc. (GS) said it has adopted all 39 initiatives it proposed to strengthen its business practices in the wake of the financial crisis, a step des...

  3. Goldman Sachs Says It Adopts All 39 Initiatives To Address Conflicts Of Interest, Other Business Issues

    Goldman Sachs Group Inc. (GS) said it has adopted all 39 initiatives it proposed to strengthen its business practices in the wake of the financial crisis, a step des...

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  5. Goldman Sachs Chief Confident Euro Will Survive

    The chief executive of Goldman Sachs (GS), Lloyd Blankfein, is confident the euro will survive despite the debt crisis, he said in an interview with newspaper Welt a...

  6. Goldman Sachs Chief Confident Euro will Survive - Report

    The chief executive of Goldman Sachs (GS), Lloyd Blankfein, is confident the euro will survive despite the debt crisis, he said in an interview with newspaper Welt a...

  7. Glass Lewis: Goldman shareholders should vote no on compensation

    Goldman Sachs Group Inc shareholders should vote against the Wall Street bank's executive compensation proposal because the board has "failed to link pay with perfor...

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