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Prince Harry ‘is in talks with US banking giant Goldman Sachs’

Prince Harry is understood to have held talks with investment bank Goldman Sachs as he and Meghan build the ‘Sussex Royal’ brand that experts believe could be worth £1billion in a decade.

The Duke of Sussex is said to have discussed following in the footsteps of David Beckham and Gwyneth Paltrow by speaking at one of the Talks at GS events.

His team is said to have spoken to the American global banking giant in November – when the couple were holed up in a Vancouver mansion with Archie and decided they would be quitting as senior royals.

Stars are not paid a fee for a Talks at GS appearance – but sources have told the Daily Mirror that it will ‘ pave the way for the Sussexes to forge a lucrative future relationship’ with the bank.

Renowned PR agent Mark Borkowski has said these deals will still bring riches in the US, adding: ‘They’re going to earn fortunes, whether through speeches or ambassador work – these are £1billion handshakes’. 

Prince Harry has reportedly held talks with investment bank Goldman Sachs as he and Meghan build the ‘Sussex Royal’ brand

Controversies surrounding Goldman Sachs

 PROFITING FROM THE FINANCIAL CRISIS

Goldman Sachs has been repeatedly accused of misleading investors about the value of subprime mortgages, stoking the 2007-08 financial .

Critics including the US Senate say it sold clients billions in sub-prime mortgage products while making its own bets on the collapse of the US housing market that eventually netted it massive profits a the expense of its customers.

It also paid 953 of its employees $1m or more in bonuses after receiving government bailout money.

SECURITIES FRAUD CONVICTION OVER SUB-PRIME MORTGAGES

Goldman Sachs was fined a record $550m in 2010 for selling its clients a financial product linked to sub-prime mortgages called CDOs that it knew was doomed to fail in 2007.

This allowed another of its clients Paulson and Co to make profits of up to $1bn by betting against the CDOs.

Goldman Sachs collected fees from both trades.

The bank’s trader Fabrice Tourre was found guilty of six counts o securities fraud.

1MDB SCANDAL

Goldman Sachs was caught up in the scandal surrounding the 1MDB fund – a Malaysian state investment fund from which several billion dollars was stolen.

Financer Jho Low is accused of stealing the money from the Malaysian public and blowing it on luxury properties, artwork and financing Leonardo DiCaprio film The Wolf of Wall Street.

Goldman Sachs helped arrange some of the deals in 2012 and a former senior partner pleaded guilty to money laundering and bribery.

Former Goldman Sachs CEO Lloyd Blankfein met Jho Low at least twice while the bank was doing business with him, according to reports.

‘BOYS’ CLUB’ GENDER DISCRIMINATION

In 2014 two women who used to work for Goldman sued the company accusing it of running a ‘Boys’ Club’ in which women were ‘sexualized or ignored’ and visits to strip clubs were common.

The suit alleges that the firm routinely paid female employees less and gave male employees unfair career advantages.

The women have filed a class action suit on behalf of 1,000 former female employees and the legal action is still ongoing.

STOCK PRICE MANIPULATION

In 2003 Goldman Sachs settled a lawsuit that alleged it artificially inflated the share price of RSL Communicatons.

INSIDER TRADING

A number of Goldman bankers have been convicted of insider trading

London-based vice president Bryan Cohen pleaded guilty in January this year to providing tips to an international trading ring that generated tens of millions of dollars in profits.

In 2010 Rajat Gupta was convicted of insider trading by proving a tips to an associate that led to profits of more than $23million.

IMPROPER LENDING PRACTICES

In 2016 Goldman Sachs was fined $15million for violating federal regulations by making improper representations to customers.

A tie-up could help them earn millions in the corporate world – but one with GS would be controversial after it was accused of playing a role in the 2008 financial crash – and then making billions of dollars at the expense of its clients during and afterwards.

Goldman Sachs declined to comment today. Harry and Meghan’s team at Kensington Palace has not responded. 

It came a week after the couple made their first private appearance since quitting as royals – at a conference for the world’s biggest bank, JP Morgan, in Florida.

The couple has refused to confirm whether they pocketed a fee to attend the event thrown by JPMorgan in Miami, where they rubbed shoulders with some of America’s richest men and women.

The Sussexes also reportedly flew in on the firm’s private jet from Vancouver, despite repeatedly calling for the world to embrace more environmentally-friendly ways to travel 

Harry gave a speech at the luxury 1 Hotel in Miami’s South Beach, watched by his wife, to an audience packed with US billionaires and luminaries, including former basketball star Magic Johnson.

The prince talked about how he had been ‘in therapy’ for the last three years over the death of his mother, Diana, Princess of Wales.

The private JPMorgan Wealth Conference ‘Alternative Investment Summit’ was this year focused on building ‘black wealth’, investing in urban America and education.

Buckingham Palace was clearly caught by surprise at the news of the couple’s attendance and was unable to confirm whether they had been paid for their appearance, despite repeated requests.

It also declined to comment on reports that the Duke and Duchess of Sussex – who are still officially classed as senior working royals until the spring – were flown to Miami in JPMorgan’s private jet.

Flight trackers show that it took off from Vancouver Airport, the nearest international terminal to the couple’s borrowed Vancouver Island mansion, at lunch time on Wednesday and landed in Palm Beach later that evening. There was no record of its return yesterday.

Harry and Meghan have been previously criticised for their jet-set lifestyle and frequent use of private planes despite preaching a green message.

A London-based spokesman for the couple simply confirmed: ‘The Duke and Duchess of Sussex attended a JP Morgan gathering in Miami yesterday where The Duke spoke.’

A spokesman for JPMorgan Chase – the world’s biggest bank, with a market capitalisation of £335 billion – also refused to comment.

However, according to a report in the New York Post’s Page Six gossip column, Harry appeared on stage with his wife and her close friend Gayle King, a high-profile US television presenter who attended her controversial baby shower in New York last year.

A source told the newspaper that Harry ‘emotionally opened up to the wealthy crowd about the childhood trauma of losing his beloved mother in 1997’.

Miss King also introduced Meghan, who said a few words about her love for her husband, before introducing Harry, according to the source.

The source added: ‘Harry spoke about mental health and how he has been in therapy for the past few years to try to overcome the trauma of losing his mother.

‘He talked about how the events of his childhood affected him and that he has been talking to a mental health professional.’

The source told the newspaper that the Queen’s grandson even spoke about his and Meghan’s decision to quit as royals, something that the Royal Family have tried not to discuss publicly since it was formally announced last month.

The couple joined 425 guests at the summit in a sprawling tent in the grounds of the five-star 1 Hotel in Miami’s South Beach (pictured)

The couple joined 425 guests at the summit in a sprawling tent in the grounds of the five-star 1 Hotel in Miami’s South Beach (pictured)

The paper reported: ‘Harry also touched on Megxit, saying while it has been very difficult on him and Meghan, he does not regret their decision to step down as senior royals because he wants to protect his family. He does not want Meghan and their son Archie to go through what he did as a child.’ 

Last month the Queen was left deeply hurt by her grandson’s decision to publicly announce that he and his wife were stepping down as senior royals and moving to North American without consulting her first.

The 93-year-old monarch, Prince Charles and Prince William were all forced to watch the news break on television and online.

Although they were aware of Harry’s desire, they had hoped to be able to sort out an amicable solution with him privately first and were said to be privately horrified about his demands to retain his HRH title and still undertake official duties on behalf of the Queen, while being free to pursue commercial opportunities.

Harry, pictured at a charity event in London last month, spoke of his battle with mental health at the summit in Miami on Thursday

Harry, pictured at a charity event in London last month, spoke of his battle with mental health at the summit in Miami on Thursday

The monarch called a summit at Sandringham days later and it was agreed that the couple could step down as long as they relinquished the use of their HRH titles for work-related purposes and gave up their official duties and patronages on behalf of the Queen.

Harry and Meghan insisted they wanted to keep their Windsor home, Frogmore Cottage, and agreed to pay back the £2.4 million of taxpayers money used to refurbish it. But they are continuing to receive money privately from the Prince of Wales.

Further details of their ‘exit package’ are being ironed out during a ‘transition period’ which will should be concluded by the spring.

Harry is expected to return to the UK to undertake a handful of engagements but aides do not expect to see Meghan for some time.

 


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