“Former Goldman Bankers Charged,” The Wall Street Journal, November 2, 2018 A1. “Two senior … bankers allegedly paid bribes and stole and laundered money … [in] one of the biggest financial frauds in history.”
What does it say when two of your 435 partners and one of your managing directors commits a fraud? Failures in systems/controls? Bad culture? Do you have a “cowboy atmosphere” in Asia? Poor training? Are these rogue employees? What’s the impact on your reputation? What was the tone at the top?
This is primarily a Governance point. How will the new CEO handle?