Goldman Sachs, JP Morgan and Morgan Stanley bosses rally behind staff after Trump travel ban
The bosses of three US banking giants have moved to reassure staff after President Donald Trump introduced a travel ban over seven majority Muslim countries.
In a voicemail sent to staff yesterday evening, Goldman Sachs chief executive Lloyd Blankfein hit back at the policy, saying: "This is not a policy we support, and I would note that it has already been challenged in federal court, and some of the order has been enjoined at least temporarily."
He continued:
If the order were to become or remain effective, I recognise that there is potential for disruption to the firm, and especially to some of our people and their families. I want to assure all of you that we will work to minimise such disruption to the extent we can within the law and are focused on supporting our colleagues and their families who may be affected.
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And, in a memo to JP Morgan staff, also sent on Sunday, the bank's operating committee, which includes chief executive Jamie Dimon, pledged its "unwavering commitment" to those working at the US giant.
"With more than 140,000 employees in the United States alone, we are grateful for the hard work and sacrifices made to keep our country safe," the memo continued. "At the same time, we understand that our country, economy and wellbeing are strengthened by the rich diversity of the world around us, where we are dedicated to serving customers and communities in more than 100 countries every day."
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Meanwhile, in a memo also sent on Sunday, Morgan Stanley chief executive James Gorman said:
We value immensely the contribution of all our employees from all over the world. Continuing to draw on talent from across the globe is a key element of Morgan Stanley's culture and ultimately to our success in serving our clients.
Signed on Friday, Trump's order has banned anyone from Iraq, Iran, Somalia, Yemen, Sudan, Syria and Libya from travelling to the country.
Several ex-Goldman Sachs staff members have taken on roles with the new President. Former bank president and operating chief Gary Cohn was picked as director of the National Economic Council last month, joining former Goldman partner Steven Mnuchin as nomination for Treasury secretary.