Goldman’s pledge to inject $500 million into firms run by women may help burnish the bank’s reputation among budding businesses.
The Fed doesn’t have the powers of a criminal prosecutor, but it can and often does sanction people involved in banking scandals.
Tim Leissner, a former top Goldman banker in Asia who led Goldman Sachs’s bond offerings for the fund, pleaded guilty to conspiring to launder money and to violating foreign bribery laws.
The two hedge funds operated under the Goldman Sachs Investment Partners division, which has about $4 billion in assets.
The bank tapped Francois Monnet and Benjamin Cavalli to help lead the wealth management business in North Asia and South Asia, respectively.
Banks like Credit Suisse Group AG have sought to integrate wealth-management and investment-bank offerings to win the most lucrative clients.
The assets held by the dirty dozen include Essar Steel, Bhushan Steel and Bhushan Power & Steel.