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International Business Times
International Business Times
Business

Goldman Sachs Junior Bankers Criticized for Magazine Feature Showing Lavish Lifestyle

UPS has picked banking giant Goldman Sachs to handle its $43.4 billion pension fund assets in the United States and Canada.

Two young Goldman Sachs bankers are facing scrutiny after participating in a flashy, unauthorized magazine feature that highlighted their expensive tastes and social lives, raising questions about professional conduct at the Wall Street giant.

According to NT, Mason Clarke, 24, and Clay Nelson, 25, both Ivy League graduates, appeared in a spread for Interview Magazine.

The photos and interviews showcased the junior bankers' luxury wardrobe, favorite Manhattan hotspots, and high-end habits, including pricey designer suits, watches, and meals at swanky bars.

Clarke was pictured lounging in a Celine suit with a Hermes tie and an Omega watch, while Nelson highlighted his sharp Tom Ford attire and posh Berlin-made glasses.

"Live below your means, invest early, and don't build the lifestyle before you build the foundation," Clarke advised in the feature, despite the ostentatious images accompanying his quotes.

Nelson also shared advice about investing, suggesting that even simple purchases like the S&P 500 can be a smart start for young professionals.

However, the unauthorized magazine spread has reportedly angered Goldman Sachs leadership.

Goldman Sachs Reviewing Possible Discipline

Sources familiar with the matter told The Post that the publication blindsided the company, creating "embarrassment" for executives and potentially violating internal policies regarding media interactions, NY Post reported.

"If these analysts didn't get approval, then that's a violation of the firm's policy," a veteran Wall Street source said. "The policies are clear: it's about checking with people who might have better judgment."

Goldman Sachs spokesperson Tony Fratto confirmed that the interviews were not approved by the company, but declined to comment on possible disciplinary measures. "Goldman Sachs media relations did not approve these interviews," he said.

The consequences could range from a simple reprimand to termination, according to sources. One senior banker joked about the situation, saying, "They will probably be fine whatever they decide to do next, but it probably won't be modeling jobs."

The magazine spread also included other young finance professionals sharing their experiences with crypto, AI, and spending habits, emphasizing how social media and public image have become more prominent for the newest generation of bankers.

A Goldman insider noted, "Juniors coming through now grew up in a social media age. They are so much more in tune with their public profile."

Originally published on vcpost.com

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