Greg Smith

On March 14, 2012, more than three million people read Greg Smith’s bombshell Op-Ed in The New York Times entitled “Why I Am Leaving Goldman Sachs.” The column immediately went viral, became a worldwide trending topic on Twitter, and drew passionate responses from politicians, business leaders and commentators. Mostly, though, it hit a nerve among the general public who question the role of Wall Street in society — and the callous “take-the-money-and-run” mentality that brought the world economy to its knees a few short years ago.

A loyal and passionate employee, Smith began his career with Goldman Sachs as an intern in the summer of 2000, immersing himself in the firm’s Business Principle #1: “Our clients’ interests always come first.” This remained his mantra as he rose from intern to analyst to sales trader, with clients controlling assets of more than a trillion dollars. He was a proud ambassador for the brand and for more than a decade Smith recruited and mentored candidates, appeared in the Goldman Sachs recruiting video, and managed the summer intern program in sales and trading in New York. However, later on into his tenure, Smith started noticing that the firm would put profit before principle, focusing on making enough money for the firm, rather than on the best interest of their clients. His work environment became what he referred to as a “toxic and destructive culture” as his colleagues blatantly mocked their clients and derisively referred to them as “muppets.” Smith felt the firm had veered so far from the place he joined out of college, that he could no longer in good conscience identify with what it stood for.