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Posts Tagged ‘Richard Siewert Jr.’

Goldman Sachs Has Tweeted Six* Times

Goldman Sachs has a new Twitter account, launched on Friday for its shareholder meeting. And what did we learn from those meeting updates? That the account was live, shareholders support everything the company is doing, and the meeting is over. Riveting.

The other four tweets have focused on the company’s CSR efforts — investments in clean tech and renewable energy — and its work with small businesses. The company has nearly 12,000 followers.

The account is part of a new PR campaign launched by the financial firm’s communications head, Richard Siewert Jr., who started just as Greg Smith blew our minds with his New York Times resignation letter to the world. Siewert has been holding internal meetings explaining the new strategy, which is based on increased transparency. We’ll need a little more than these first few tweets.

*Make that seven times, as of 5/29 a.m.

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Many Reactions to the Goldman Op-Ed Focus on Greg Smith

Reactions to Greg Smith’s censure of the “new” Goldman Sachs have fallen into a few categories. Some went the funny route, like The Borowitz Report, which joked that only the “finest sociopaths” work at the firm and “announced” that LRA leader Joesph Kony would be replacing Smith. Darth Vader announced he was leaving the Empire. And Don Draper explained why he’s quitting cigarettes.

Some tried to show a little sympathy for Richard Siewert Jr., who only just started his job as the head of comms at Goldman and is already up to his eyeballs. A lengthy memo went out from Goldman execs Lloyd Blankfein and Gary Cohen (we wouldn’t be surprised if Siewert had a look at it), that gets credit from Dukas PR CEO Richard Dukas for being a measure better than the initial statement.

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Exec’s Resignation Op-Ed Confirms What We Already Knew About Goldman Sachs

The one percent is turning on itself!

“To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money,” writes Greg Smith in the New York Times opinion piece that has got Goldman Sachs trending on Twitter. After 12 years with the company, Smith, an executive with the financial powerhouse, tendered his resignation with the op-ed, saying that the company is so “toxic” he can’t identify with it anymore.

“The culture was the secret sauce that made this place great and allowed us to earn our clients’ trust for 143 years,” Smith goes on to say, describing a company that once worked with integrity, humility, and care for its clients. But no more. Now, it’s all about making money, no matter what.

“It astounds me how little senior management gets a basic truth: If clients don’t trust you they will eventually stop doing business with you. It doesn’t matter how smart you are,” he says. Preach!

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