"Over the course of my career I have had the privilege of advising two of the largest hedge funds on the planet, five of the largest asset managers in the United States, and three of the most prominent sovereign wealth funds in the Middle East and Asia. My clients have a total asset base of more than a trillion dollars. I have always taken a lot of pride in advising my clients to do what I believe is right for them, even if it means less money for the firm. This view is becoming increasingly unpopular at Goldman Sachs. Another sign that it was time to leave. ...
I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It’s purely about how we can make the most possible money off of them. If you were an alien from Mars and sat in on one of these meetings, you would believe that a client’s success or progress was not part of the thought process at all."
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With clients to "help" like these ... what kind of person is doing the "helping"?
My read about this much-talked about piece: This is a frustrated guy who feels he didn't get his share of the cooperate pie and so is "exposing" his decade-long masters -- doubtless because he feels they weren't paying/promoting him enough, so that he could, sooner than later, be their Wall Street master, clearly his no. 1 ambition. No need to read between the lines.
Pretending to be a ping-pong playing idealist (as he describes himself in his article, "modestly" citing one of his many resume-worthy achievements) who wants to "help" loaded investors -- after more than ten years Working for the Man -- is no way to be persuasive about one's intentions/honesty, especially when Americans are struggling to pay for mortgage/grocery/high gas/medical bills at awful time economically, marked by the disparity between the Wall-Street rich and other Americans.
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