Philippa Wynn-Green, board director, Clarion Communications
Announcing his resignation in a letter to The New York Times recently, an employee of Goldman Sachs accused the bank of acting only in its own interests - and referring to clients as ‘muppets’. The media, lapping up another negative banking story, gave this masses of space - and Goldman Sachs, usually accustomed to positive stories about its success, felt the full force of negative public opinion and saw its value drop by billions.
The moral of the story? A positive workplace atmosphere and a culture of professional integrity are essential for business reputation. The Goldman Sachs renegade employee scandal shows that Good PR Starts At Home.