Some Wall Streeters shake their fist at regulatory burdens imposed on the industry in the wake of the financial crisis. But a few finance pros have regulators to thank for their employment.
For now, at least.
Goldman Sachs CEO Lloyd Blankfein spoke Tuesday at the Credit Suisse Financial Services Conference in Miami, and highlighted the biggest drivers of hiring at the investment bank: the increased need for regulatory and compliance professionals, thanks to myriad new rules from Washington.
"We've also had headwinds, because of structural things, of increased head count and most of it is to support heightened compliance efforts," Blankfein said.
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He pointed out that Goldman's staff has increased by more than 3,000 since 2012. But, not everyone in the bank's compliance department should get too comfortable.