Goldman Sachs CEO Says Supporting Gay Marriage Is ‘Not Without a Price’

Lloyd Blankfein, chairman and chief executive officer of Goldman Sachs Group Inc.
Photo: Jin Lee/Bloomberg via Getty Images

Lloyd Blankfein of Goldman Sachs appeared in a Human Rights Campaign ad earlier this year advocating for marriage equality, but said today that taking a public position has had business consequences:

“It’s not without a price,” the Goldman chief executive told an audience on Wednesday. “There was some adverse reaction by someone ... They didn’t want to continue a relationship that they had with us in money management ... I won’t say the name but if you heard the name it wouldn’t surprise you.”

The discreet and accepting Blankfein was speaking to Out on the Street, a gay Wall Street activist group, along with Bank of America CEO Brian Moynihan, who vouched for finance culture: "You can come in, be yourself, be successful, be all you want to be."

According to the Financial Times report, a Goldman managing director joked that because of sexual politics "she had an exemption from a firm-wide ban on voting for Barack Obama in November's presidential elections," but Blankfein, a registered Democrat and self-described Rockefeller Republican, "quickly noted that Goldman bankers could vote for whoever they wished." Although not without a price, presumably.