- Prior to the global economic meltdown Goldman Sachs were renowned for it’s lavish gala dinners for it most profitable bankers
- Goldman hosted its first event since the crash last month
- It was a lavish affair with 450 bankers and their partners flown in from around the world to attend
- Earlier this year the investment bank posted a $2.9 billion quarterly profit
Dust of your tuxedos and ballgowns because the good times are back once again – or at least for employees at Goldman Sachs.
Prior to the global economic meltdown in 2007, the investment bank’s annual dinners were lavish affairs when the banking behemoth spoiled its most profitable bankers and their partners.
These parties were mothballed following the financial crisis when many banks were bailed out using taxpayer’s dollars and bankers were encouraged to show some modesty and not flaunt their massive bonuses while other people were having their homes repossessed.
Now the good times are undoubtedly back at Goldman after the company posted a $2.9 billion quarterly profit earlier this year.
That handsome return was enough to encourage the powers-at-be at the bank that they had been modest too long and the time was right for a return to the excess of yesteryear.
At the beginning of last month the company flew it’s top 450 bankers and their partners from all around the globe to New York for a business meeting and then a night of revelry.
The black-tie gala was held at Pier 36, an exclusive event space on Manhattan’s Lower East Side and as these images show it was a lavish affairs for all those lucky enough to have been invited.
‘The dinner was a nice way to end a week full of meetings and to welcome the 70 new partners, especially since that whole group from around the world doesn’t get together often,’ Goldman spokesman David Wells told New York magazine about the event.
Becoming a partner at Goldman is seen as the pinnacle of a career on Wall Street and those that make it are richly rewarded with massive bonuses and many other perks such as invitations to exclusive parties.
The bankers also got to bring along their spouse or a special friend to enjoy the gourmet dinner and jazz performance which followed.
One lucky guest was Instagram user Shannon Kelly who posted several photos of the gala and included captions describing it as ‘like attending the Golden Globes of investment banking!’
Where Goldman leads other banks are bound to follow so expect more glitzy events such as this from Wall St’s finest, even if the effects of the banking crisis are still being felt by the folks on Main St.