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As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

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As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

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Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
FinanceGoldman Sachs Group

Goldman Sachs just fired 20 analysts for cheating on tests

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Michal Addady
Michal Addady
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By
Michal Addady
Michal Addady
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October 16, 2015, 12:51 PM ET
Goldman Sachs headquarters Sao Paulo Brazil
Goldman Sachs headquarters office in Sao Paulo, BrazilPhotograph by Paulo Fridman
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Goldman Sachs (GS) is letting 20 analysts go after finding out they had cheated on internal training tests, Bloomberg reports.

The analysts had worked in the securities divisions in various global offices, including London and New York. Sources told Bloomberg that some of them have already been dismissed while others are in the process of leaving.

It’s common for Wall Street bankers to help one another with basic training and compliance tests that are often time consuming and repetitive. Banks have started cracking down on this practice in the face of increase scrutiny from regulators.

Sebastian Howell, a Goldman Sachs spokesperson in London, told Bloomberg: “This conduct was not just a clear violation of the rules, but completely inconsistent with the values we foster at the firm.”

Goldman Sachs has recently become Wall Street’s least valued bank. It was once one of the nation’s most impressive financial firms with an over 20% return on equity, the report said, but in recent days that number has been cut in half. Shares have fallen about 10% this year resulting in a price-to-earnings ration of 8.8, the lowest P/E ratio of any of the nation’s largest banks.

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