Goldman divides employees into haves and have-nots
Bank account size now matters for Goldman Sachs employees, says an article in New York Magazine's Daily Intelligencer.
The investment banking firm has begun restricting access to its prestigious asset management division by forcing employees with less money into accounts offered by (gasp) retail brokerage Fidelity Investments.
Earlier this year, Goldman began requiring employees with less than $1 million in assets at the firm to pay a $3,000 annual fee to keep their Goldman accounts open, according to several ex-employees.
Goldman told New York that the policy is aimed at both current and former employees, and that it was aimed at making sure they had the right investment tools and services.