Overview

"In What Happened to Goldman Sachs, Columbia Business School professor and former Sachs executive Steven Mandis charts the evolution of Goldman Sachs from an ethical standard to a legal one and uncovers the forces behind what he calls Goldman's ""organizational drift."" Drawing from his firsthand experience; sociological research; analysis of SEC, congressional, and other filings; and a wide array of interviews with former clients, detractors, and current and former partners, Mandis exposes the pressures that forced Goldman to slowly drift away from the very principles on which its reputation was built. Combining insightful analysis with engaging storytelling, Mandis has written an insider's history that offers invaluable perspectives to business leaders interested in understanding and managing organizational drift in their own firms."

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9781665157230

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Reviews

What Happened to Goldman Sachs by Steven Mandis is the book to read. -- Andrew Palmer, finance editor at the Economist A must-read for anyone interested in the world of business and finance, history, or organizational dynamics. -- Publishers Weekly A profound tale. -- Financial Times (London) An accessible, clearly written book. -- New York Times Fascinating...For its sympathetic yet unflinching study of a firm and an industry that has come to epitomize what is problematic about Western capitalism, What Happened to Goldman Sachs is hard to beat. -- Strategy+business magazine Mandis' book describes changes at the bank and across the industry that have contributed to the unflattering portrait of Wall Street that has taken hold since the financial crisis. -- Politico.com Sean Runnette performs this tale of an epic business collapse with a tone of thoughtful resignation. This couldn't be more effective in framing the author, a sociologist and former Goldman executive, as both trained observer and tragic victim...The author's skill with narrative and Runnette's sensitivity give this story Shakespearean proportions that make this extended saga riveting. Winner of the AudioFile Earphones Award. -- AudioFile Several authors have tackled the question of how Goldman's culture changed post-1999 but none so deftly as Steven G. Mandis. -- Wall Street Journal

"""What Happened to Goldman Sachs by Steven Mandis is the book to read."" -- ""Andrew Palmer, finance editor at the Economist"" ""A must-read for anyone interested in the world of business and finance, history, or organizational dynamics."" -- ""Publishers Weekly"" ""A profound tale."" -- ""Financial Times (London)"" ""An accessible, clearly written book."" -- ""New York Times"" ""Fascinating...For its sympathetic yet unflinching study of a firm and an industry that has come to epitomize what is problematic about Western capitalism, What Happened to Goldman Sachs is hard to beat."" -- ""Strategy+business magazine"" ""Mandis' book describes changes at the bank and across the industry that have contributed to the unflattering portrait of Wall Street that has taken hold since the financial crisis."" -- ""Politico.com"" ""Sean Runnette performs this tale of an epic business collapse with a tone of thoughtful resignation. This couldn't be more effective in framing the author, a sociologist and former Goldman executive, as both trained observer and tragic victim...The author's skill with narrative and Runnette's sensitivity give this story Shakespearean proportions that make this extended saga riveting. Winner of the AudioFile Earphones Award."" -- ""AudioFile"" ""Several authors have tackled the question of how Goldman's culture changed post-1999 but none so deftly as Steven G. Mandis."" -- ""Wall Street Journal"""

Author Information

Steven G. Mandis worked at Goldman Sachs from 1992-2004, in its investment banking, private equity, and proprietary trading areas. He assisted Hank Paulson and other senior executives on special projects, and eventually became a portfolio manager in one of the largest and most successful proprietary trading areas at Goldman Sachs. Post Goldman, he co-founded a multi-billion-dollar global alternative asset management firm that was a trading and investment banking client of Goldman Sachs. Currently he is an adjunct professor at Columbia Business School and a PhD student in the sociology department at Columbia University. He has an AB from the University of Chicago and an MA from Columbia University. Sean Runnette, an Earphones Award-winning narrator, has also directed and produced more than two hundred audiobooks, including several Audie Award winners. He is a member of the American Repertory Theater company and has toured the United States and internationally with ART and Mabou Mines. His television and film appearances include Two If by Sea, Cop Land, Sex and the City, Law & Order, the award-winning film Easter, and numerous commercials.

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