Knowledge @ Wharton wrote a follow-up post to the New York Times article I was quoted in regarding Blankfein’s new role as spokesman for same-sex marriage. Some excerpts are below and you can find the full article here.
“I’m Lloyd Blankfein … and I support marriage equality.” Those are the words used by the chairman and CEO of Goldman Sachs in a new video spot produced by The Human Rights Campaign, a national organization that advocates equal rights for gays, lesbians, bisexuals and transgendered people.
Blankfein is not the most obvious spokesperson for such a campaign. As an article in The New York Times points out, he has been “a lightning rod for Wall Street critics” taking aim at exorbitant executive pay packages and the role Goldman Sachs and other investment banks played leading up to the financial crisis.
The New York Times Dealbook recently asked me to comment on Goldman Sachs CEO Blankfein’s decision to speak out for same-sex marriage. I have posted some excerpts including my quote below, and you can read the full article in New York Times’ Dealbook here.
Lloyd C. Blankfein, the chief of Goldman Sachs who has become a lightning rod for Wall Street critics, might seem an unlikely advocate for same-sex marriage. But his credentials — a public figure in a conservative industry — could make him a powerful voice for that cause.
The Human Rights Campaign, a national organization that promotes equal rights for gay, lesbian, bisexual and transgender people, has persuaded Mr. Blankfein to be its first national corporate spokesman for same-sex marriage, an issue that will come up for a legislative vote in several states this year, including Washington and Maryland. Fred Sainz, an executive with the Human Rights Campaign, said the organization sought Mr. Blankfein, in part, because he is “an unexpected messenger.”
Paul A. Argenti, a professor of corporate communication at the Tuck School of Business at Dartmouth, says Mr. Blankfein’s decision isn’t likely to have any positive impact on the reputation of the firm — or Mr. Blankfein.
“If you are a Goldman employee and you are gay or contemplating coming out, this is great,” he said. But for Goldman and Mr. Blankfein, the issue of same-sex marriage has nothing to do with what Goldman Sachs does. “If Mr. Blankfein was taking a radical stand on pay you could say wow, that’s big. But equality is simply not an issue you associate with Goldman.”
Still, the campaign is sure to turn heads on Wall Street, which despite having made progress on equality issues over the last decade, is still considered to be a male-dominated, testosterone-driven place.
…Read the rest of the article here.
- Same-Sex Marriage’s New Spokesman: Lloyd Blankfein (blogs.wsj.com)
- WATCH: Goldman Sachs CEO Supports Same-Sex Marriage (huffingtonpost.com)
- DealBook: Blankfein to Speak Out for Same-Sex Marriage (dealbook.nytimes.com)