Asset Management

12:45 PM
Melanie Rodier
Melanie Rodier
Commentary
Connect Directly
Facebook
Google+
LinkedIn
Twitter
RSS
E-Mail
50%
50%

Former Goldman Sachs Exec Will Write Tell-All Book

Bashing a bank can be big business, of course.

A couple of weeks ago, Greg Smith set off a media storm when he wrote an op-ed in the Times explaining why he was leaving Goldman Sachs after 12 years.

While many were in all likelihood quietly gloating over their bowl of cereal as they read the inflammatory piece, others pointed out that Smith had waited until yearly bonuses were handed out before he quit. Others pondered why it had taken him over a decade to realize he didn’t like his bosses. Some thought the whole affair might be a bit of publicity before he got into politics. And others believed it was a prelude to a book. They were right.

[For more on reactions to Greg Smith's resignation, read Funniest Web Reactions To Goldman Sachs Exec’s Very Public Resignation.]

Smith reportedly shopped his book proposal round to several major New York publishers last week, describing what he said would be an inside look at Goldman and how he believed the culture at the firm had changed over the last decade.

He has now just sealed a deal with Grand Central Publishing, part of the Hachette Book Group for a reported $1.5 million, according to the New York Post.

Bashing a bank can be big business, of course.

Watch this space for a review.

Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio
Comment  | 
Print  | 
More Insights
More Commentary
Mobile Hot, Cloud Not in Financial Services
A survey conducted by the Harvard Business Review in conjunction with Verizon looked at technology trends in various industries.
Interactive Data Launches Continuous Fixed Income Pricing Service
Independent intra-day FI pricing is helping to shine light on the opaque fixed income market.
Gartner: 75% of Mobile Apps Will Fail Security Tests Through 2015
The rise of BYOD means enterprises must implement security testing and containment solutions, according to new Gartner research.
Chip & Pain, EMV Will Not Solve Payment Card Fraud
Switching to EMV cards will lower retail fraud, but it's not enough. Here's the good, the bad, and the ugly.
With UCITS V, $9T Isnít as Easy as It Used to Be
With UCITS V's restrictive remuneration rules and hidden costs, going global may get a little less attractive.
Register for Wall Street & Technology Newsletters
White Papers
Current Issue
Wall Street & Technology - Elite 8, October 2014
The in-depth profiles of this year's Elite 8 honorees focus on leadership, talent recruitment, big data, analytics, mobile, and more.
Video
Top Quotes of the Week
Top Quotes of the Week
It wasn't all bad luck for the capital markets this week: Hedge funds had a decent first quarter despite a slowdown in jobs numbers, BlackRock might be heading into new territory as hedge fund managers take a hard look at their counterparties, and the head of the IMF didn't pull any punches when assessing today's global economy. At least we can admire the nice weather and some of the best quotes of the week.