Goldman Sachs Group Inc. fired transaction banking executives including the head of the business, Hari Moorthy, over compliance lapses, a person with direct knowledge of the matter said.
The Wall Street firm terminated several leaders of the unit who communicated on unauthorized channels and didn’t comply with an internal review, according to a memo to employees seen by Bloomberg. Moorthy, who isn’t named in the memo, didn’t immediately respond to messages seeking comment.
“We are not going to comment on individual disciplinary matters. As a general matter, we take our communications policy seriously, and we expect all of our personnel to comply with it,” the bank said in a statement. “Goldman Sachs remains fully committed to our transaction banking business.”
Source: Goldman Sachs Fires Transaction Banking Chief Hari Moorthy, Others for Lapses – Bloomberg
