John F. W. Rogers is known on Wall Street for four initials and an enviable fact of corporate geography. The F. and W. stand for Francis and William, though why Rogers uses them both is one of several mysteries he has either gone out of his way to cultivate or never seen fit to explain.
Lucas van Praag’s departure after 12 years as Goldman Sachs Group Inc.’s chief spokesman and the possible hiring of a former U.S. Treasury Department aide to replace him signal that Wall Street is ready to change its tone.
Federal prosecutors in New York have been examining transactions by Goldman Sachs Group Inc., accused of fraud by U.S. securities regulators, to determine whether to pursue a criminal case, according to two people familiar with the matter.
Lucas van Praag, who became one of the public faces of the U.S. financial industry as Goldman Sachs Group Inc.’s global head of corporate communications, is leaving the firm after 12 years. Bloomberg’s Julie Hyman reports. (Source: Bloomberg)
Goldman Sachs Group Inc. may be better off cutting its losses instead of fighting what it terms “unfounded” fraud claims, say professors of securities law who have examined the U.S. Securities and Exchange Commission’s lawsuit against the bank.