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Late Links: Goldman Sachs promoting elitism with £500k in scholarships to Eton?

Preparing to become corporate brokers (Photo credit: fiverlocker)

Preparing to become corporate brokers (Photo credit: fiverlocker)

Financial News reports today that Goldman Sachs Gives (UK) – the charitable arm of the US investment bank, contributed £500k towards scholarships at Eton, last year. It also contributed £575k to Christ Church College Oxford. 

Eton is, needless to say, one of the UK’s most prestigious public schools. Christ Church is one Oxford’s most prestigious colleges and according to university data, accepts one of the lowest proportions of state school pupils of all the colleges in Oxford University. Goldman’s contributions are intended to help underprivileged students into both institutions, and can be seen as anti-elitist. Equally, however, by donating money to the most elite educational establishments in the UK, it could be argued that Goldman is also emphasising the need to join established elites to get ahead.

Banks like JPMorgan are encouraging applications from underprivileged students. Goldman Sachs has also donated £3.6m, to the ‘Greenhouse Schools Project’, a charity which uses sports and arts programmes to teach disadvantaged 11 to 16 year olds in London.

Meanwhile:

Kareem Serageldin, man with the $7m bonus, says he didn’t artificially inflate subprime bond prices. (Reuters) 

Chinese IPO bankers studied 14 hour days for a qualification which is becoming superfluous. (Bloomberg) 

Sam Ruiz, an ex-Lehman banker and head of equities at Nomura, is thinking of leaving. (Financial News) 

A cap on fund management bonuses could lead to an intense period of job cuts, says head of Jupiter Asset Management. (Financial Times) 

Why you might want to send handwritten thank you notes to people who’ve interviewed you. (HBR) 

Where bank regulators go to get rich. (Bloomberg)

Ethical decisions can be affected by the amounting lighting in a room. People cheat when lighting is dim. (Sunday Times) 

Nick Leeson advises bankers to avoid socialising with the people they work with. (CIPD) 

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