Goldman Bankers Need OK to Travel to Paris This Summer

Investment firm wants to stop employees who are trying to catch Olympic Games on company's dime
By Jenn Gidman,  Newser Staff
Posted Apr 29, 2024 8:05 AM CDT
Goldman Sachs to Its Bankers: Not So Fast on Paris Trips
The Olympic rings are seen not far from the Eiffel Tower in Paris on Sept. 14, 2017.   (AP Photo/Michel Euler, File)

Goldman Sachs apparently doesn't completely trust its bankers when it comes to how they handle expenses, and this summer's Olympics are presenting a new reason for the company to be keep an eye on its wallet. Bloomberg reports that the investment firm has laid down the hammer on employees who may have wanted to attend the Games mostly on the company's dime, by booking a trip for ostensible business meetings and events but then sneaking off to check out the Olympics on the side. Now, staffers heading to Paris anytime between July 24 and Aug. 14 must get an OK from higher-ups in the finance division before making the trip, per an email sent to workers.

"In line with previous Olympic Games, we have asked our people to effectively manage their spend and ensure coordination with firm-sponsored events for our clients" while the Olympics are taking place, says a Goldman Sachs spokesperson. Fortune notes that staying in Paris around the time of the Games will likely prove to be even more costly than usual: According to consumer interest organization UFC-Que Choisir, some hotels in the City of Lights are charging upward of $1,000 per night. (More Goldman Sachs stories.)

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