Goldman Sachs is taking notice of employees conveniently planning trips to Paris this summer.
Bloomberg reported that the investment bank is requiring employees who plan to travel to the city between July 24 and August 14, citing an email sent to employees last week. To receive approval from finance department This is to prevent people on Wall Street from sneaking into the Olympics.
If not approved, staff will have to pay out of pocket to travel to the French capital.
A Goldman spokesperson told Bloomberg: “As with previous Olympic Games, our employees will be working to effectively manage spending during the Paris Games and ensure we are coordinating with company-sponsored events on behalf of our clients. I have requested this,” he said.
Goldman did not immediately respond to Quartz's request for comment.
The New York-based investment bank is deepening its presence in Paris as part of its post-Brexit restructuring. Goldman confirmed last week that it had relocated European banking chief Dirk Lievens from London to Paris.Levens told Fortune “This move is of symbolic and strategic importance,” he said.
Lievens, who heads Goldman's financial institutions group in Europe, the Middle East and Africa, said between a quarter and a third of Goldman's London employees would move to Paris “in the medium to long term”.
The Olympics will be held in and around Paris from July 26th to August 11th, and will feature 329 games in 32 sports. Venues throughout the metropolitan area. Goldman's Paris headquarters are a few blocks from the Arc de Triomphe, and it's unusual for a major bank like Goldman to host meetings with clients or other business at major sports tournaments or other important events. That's not the point.The Paris Olympics are scheduled Attracts over 15 million spectators To a city of 12.4 million people.
The offices of the Paris 2024 Olympic Committee were raided by French police last year as part of an investigation. Embezzlement of public funds and provision of favors. This marks the third consecutive time that corruption allegations have surfaced at the Summer Olympics.This is the first time the Olympics will be held in Paris. In 100 years.
