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Goldman aims to boost trading results with more obliging customer service

Published 07/10/2017, 02:55 PM
© Reuters.  Goldman aims to boost trading results with more obliging customer service
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  • "Just add butter," is the three-word slogan adorning baseball caps on the Goldman Sachs (NYSE:GS) trading floor.
  • That's thanks to Pablo Salame - the bank's co-head of trading - who gathered the troops for a town hall meeting after the trading division posted its worst Q1 in more than a decade. Too often, said Salame, clients face a web of fees from numerous desks that aren't working together, or they're ignored entirely.
  • "Just add butter," refers to how a restaurant might treat regular customers - if they ask for butter with their steak, don't hassle or up-charge them, just give them the darn butter (with a smile).
  • Salame's talk is thus an offshoot of senior partner's Gustave Levy's "long-term greedy" philosophy in the 1970s in which bankers were urged to forgo easy money for the building of long-term relationships.
  • Source: Dakin Campbell at Bloomberg


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