Blankfein Says Goldman Has Controls for Hiring of Connected Kids

Goldman Sachs Group Inc. has controls in place to avoid conflicts of interest when clients request jobs for their children, Chief Executive Officer Lloyd C. Blankfein said.

“I’ve had people who say, ‘Look, my kid’s in the blankety-blank business school in the United States, and really would like a job in finance, really would like a job at Goldman Sachs,’” Blankfein, 59, said today in a CNBC interview at the World Economic Forum in Davos, Switzerland. “I’m thinking about how it could look, and so we have a lot of processes to vet these things.”