Tell Goldman to keep bonus incentives in place for business growth
In recent years, banks have been publically scrutinized for potentially risky investments that supposedly have jeopardized consumer and shareholder value. Additionally, various groups and organizations have petitioned banks to change their incentive structure, rewarding executives and employees for more risk averse investing and focusing on corporate sustainable value creation.
However, these actions have the potential to slow business growth, decrease investor return and change the operational structure of the business. We are asking Goldman Sachs to continue as it has been, disregarding the request for realignment of compensation metrics to discourage risky investments. We're encouraging Goldman Sachs to stay the course.
Ms. Heather K. Miner
Vice President
Goldman Sachs Group
85 Broad Street
New York, NY 10004
Dear Ms. Miner,
As concerned customers, consumers and shareholders, we know that over the past few years, banks and risk management practices at investment firms have come under scrutiny from the public. Additionally, various groups and organizations have sought to change the incentive structures at these institutions to better align risk aversion and compensation. However, we fear that changing incentive structures and aligning pay evaluations with value creation metrics along with other attempts to ensure long term growth are ultimately harmful to the business.
We have chosen to be shareholders of your company because we believe in your business practices and the potential for increasing the value of our investments. We are also aware that without high risk, high reward does not exist. If Goldman Sachs changes its business outlook to focus on safer or less risky investments and practices, it is very likely that the reward of such undertakings will also be lessened.
As investors, customers and consumers, we urge you to continue running your business and investment strategies as you have in the past, providing a service and offering investors a chance for growth. We know that monetary reward propels a great deal of U.S. business forward, and we want Goldman Sachs to continue to grow by offering your employees incentives for that potential success. With these principles in mind, your business will be best aligned with the interests of your investors and best positioned for growth.
We are interested in hearing your point of view regarding this matter. Please respond to this letter on Moxy Vote.
Sincerely,
585 Concerned Citizens
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