{"id":349060,"date":"2021-10-06T05:50:43","date_gmt":"2021-10-06T02:50:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/goldman-sachs-rebels-dad-is-tough-on-tpg-employees\/"},"modified":"2021-10-06T05:50:43","modified_gmt":"2021-10-06T02:50:43","slug":"goldman-sachs-rebels-dad-is-tough-on-tpg-employees","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/goldman-sachs-rebels-dad-is-tough-on-tpg-employees\/","title":{"rendered":"#Goldman Sachs rebel&#8217;s dad is tough on TPG employees"},"content":{"rendered":"<p>&#8220;<strong>#Goldman Sachs rebel&#8217;s dad is tough on TPG employees<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>An entry-level banker helped spark a workers\u2019 revolution at Goldman Sachs, but would he have tried to pull those shenanigans with his dad?\u00a0<\/p>\n<p>Last month, it was revealed that among the first-year bankers who assembled a viral slide presentation that detailed brutal working conditions at Goldman was Joey Coslet, 23, son of buyout baron Jonathan Coslet, who is the vice chairman of private-equity giant TPG.\u00a0<\/p>\n<p>What\u2019s lesser-known, however, is the fact that the elder Coslet has a reputation himself for driving underlings hard \u2014 and may be even tougher than Goldman\u2019s boss, David Solomon, when it comes to cracking the whip.\u00a0<\/p>\n<p>In 2012, when the younger Coslet would have been 14 years old, Jonathan Coslet put down a similar uprising at TPG, where entry-level associates were chafing at their long hours, according to sources close to the firm.\u00a0<\/p>\n<p>\u201cThey were saying, \u2018We don\u2019t mind working 80 hours a week, but not 100,\u2019 \u201d according to one former TPG employee. \u201cThe culture was all hands on deck,\u201d a second employee from that time-frame said. \u201cTwenty-four seven. I never worked harder in my life, and I had already been at a New York City law firm.\u201d\u00a0<\/p>\n<p>As TPG\u2019s chief investment officer at the time, Coslet could be quite particular about the way financial models were presented at meetings on potential deals, insiders said. If a slide presentation wasn\u2019t up to snuff, Coslet didn\u2019t hesitate to force a dealmaker to redo it multiple times ahead of companywide Monday meetings, a source with direct knowledge of the situation said.\u00a0<\/p>\n<p>\u201cYou had to give it to him in the way he wanted. This table, this model and this forecast,\u201d according to the direct source. \u201cAssociates would work all day Saturday and Sunday night for the noon Pacific time Monday meeting.\u201d\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/goldman-sachs.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Michael Kovac\/Getty Images\" class=\"wp-image-19709410\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/goldman-sachs.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/goldman-sachs.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/10\/goldman-sachs.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Joey Coslet, Jonathan Coslet\u2019s son, helped spark a workers\u2019 revolution at Goldman Sachs.<\/figcaption><figcaption><span class=\"credit\">Ramin Talaie\/Corbis via Getty Images<\/span><\/figcaption><\/figure>\n<p>The result? A weekly routine that looked an awful lot like the one at Goldman, where the younger Coslet and his cohorts griped of \u201cinhumane\u201d working conditions that were hurting their physical and mental health.\u00a0<\/p>\n<p>At TPG, the junior associates\u2019 laments over lost weekends never took written form in a letter to Coslet, much less a Power Point presentation that got leaked onto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a>. Nevertheless, Coslet caught wind of the grumbling and \u201che felt he had to address it,\u201d according to the source.\u00a0<\/p>\n<p>Wasting no time, Coslet addressed the situation on a regularly scheduled call with the firm\u2019s rank and file.\u00a0<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>\u201cHe said to them on the call, \u2018You have to go above and beyond. If you don\u2019t like it, you can go somewhere else,\u2019 \u201d the source said. \u201cHe talked about all the things he did when he joined TPG as its first associate \u2014 including carrying Bondo\u2019s bags,\u201d the source added.\u00a0<\/p>\n<p>\u201cBondo\u201d would be TPG\u2019s billionaire chairman David Bonderman, who has famously t<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed big-ticket acts including the Rolling Stones to entertain at his lavish parties.\u00a0<\/p>\n<p>TPG declined to comment.\u00a0<\/p>\n<p>\u201cSo excited you will be working just a block away from my office,\u201d the elder Coslet wrote to his son on Facebook last May, celebrating his son\u2019s graduation and the Goldman gig. \u201cLots of lunches, if they let you out of work.\u201d\u00a0<\/p>\n<p>He added a smiley face.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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